Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

As Luxembourg Freeport Opens, Plans for Dubai & Shanghai Emerge

September 19, 2014 by Marion Maneker

Luxembourg Freeport

Reuters’s story on the opening of the Luxembourg freeport contains some interesting information from Tony Reynard, the head of the Singapore freeport owned by the same company. There are plans for additional freeports in Dubai and Shanghai:

Luxembourg and Singapore’s majority owner is Yves Bouvier, a Swiss businessman with an art storage and shipping service already operating in Geneva, a city which set up its first freeport in 1854.

“We had to move on to Luxembourg because Geneva was full. With Luxembourg we have an airport that can handle cargo. In Geneva you have to move everything by road,” he told Reuters.

Reynard said there were plans to set up a similar operation in Dubai and, possibly, Shanghai – both home to large number of potential affluent clients, keen to have their treasures stored securely and confidentially in exchange for a fee.

Luxembourg opens art freeport to lure super-rich   (Reuters)

More from Art Market Monitor

  • Sotheby's American Paintings = $20,577,500Sotheby's American Paintings = $20,577,500
  • Sotheby's Cont. Evening Sale = $222,454,500Sotheby's Cont. Evening Sale = $222,454,500
  • Robins Loses Suit for Lack of ProofRobins Loses Suit for Lack of Proof
  • Will Art Dealers Become Like Venture Capitalists?Will Art Dealers Become Like Venture Capitalists?
  • Chuck Close Defends Art MarketChuck Close Defends Art Market
  • Sotheby’s Earnings Reveals Another Wrinkle on Guarantee Strategies at Both HousesSotheby’s Earnings Reveals Another Wrinkle on Guarantee Strategies at Both Houses

Filed Under: General

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...