$2,000 in free prizes! piglix.com is giving away ten (10) Meccano Erector sets, retail at $200 each, that build a motorized Ferris Wheel (or one of 22 other models) ... see details
Free Ads! if you are a business with annual revenues of less than $1M - piglix.com will place your ads free of charge for up to one year! ... read more
The international trade of fine art is most precisely defined as the trade across nations of unique, non-reproducible works by an artist. The art trade contradicts typical international trade models since it is a culturally significant good. It is not treated by consumers the same way any other commodity would because of the aesthetic value that is unique to each piece. Despite existing as a finite physical piece, unique art is still considered intellectual property. This sparks the debate as to whether art exports should be restricted for nationalistic and cultural reasons, or liberalized for the sake of a healthier international market.
The trade commodities included in the definition of “visual art” include the following: painting, drawing, sculpture in various materials, printmaking, photography, maps, performance art, installation art, mail art, assemblage art, textile arts, fashion design, video art, digital art, and product design. These works are non-functional, emotional, social, political, traditional, and cultural statements, and in comparison to other goods, are not greatly affected by commercial-sector constraints. Though visual art is a physical, hand-made good, it is often culturally rooted and created for aesthetic appeal. Therefore, art is considered intellectual property.
The 4-digit Standard International Trade Classification (SITC) classifies “Works of Art, Collectors Pieces and Antiques” under category 8960, which includes paintings, drawings, pastels, original sculptures, original prints, stamps, and antiques over 100 years old. This is the only SITC category that consists of unique, non-reproducible art, which is typically thought of as “fine” art. The 4-digit harmonized commodity description and coding system, otherwise known as the harmonized system (HS) code for “fine” art is 9701, which is classified as "Paintings, Drawings and Pastels, Executed Entirely By Hand."
|Year||Duty (%)||Context of change, exemptions|
|1790||10||A general increase in duties was prompted by revenue requirements|
|1800||12.5||Upward revisions were made to “defray expenses in relation to the Barbary States.”|
|1812||30||Duties were more than doubled to finance the war with Britain|
|1816||15||Imports of “any society incorporated for philosophical or literary purposes or for the encouragement of the fine arts” were placed on the free list.|
|1824||15||Protectionist pressures generated advances in duties, overall, but duties on imported art were not changed.|
|1832||0||Tariff Act of 1832: All paintings and sculpture were placed on the free list.|
|1841–1842||20||Overall increase in rates was driven by needs of an empty Treasury. Though art duties were re-imposed, the “productions of American artists residing abroad” were added to the free list, along with imports of nonprofit cultural institutions.|
|1846||0||All paintings entered free when imported as an object of taste and not of merchandise.|
|1861||10||The requirements of the Civil War finance elevated overall rates.|
|China, Hong Kong SAR||782,230,445|
|Country||In 1,000 Dollars|
|Country||In 1,000 Dollars|
Don't forget! that as one of our early users, you are eligible to receive the 1,000 point bonus as soon as you have created five (5) acceptable piglix.