If your client has an ivory item or collection at home, they can continue to enjoy the piece or pieces and if they wish to gift or bequeath them for personal use then that is fine. However, when it comes to buying or selling ivory items, there are only a few exceptions to allow you to do so. The current exemptions are as follows:

•     Musical instruments made prior to 1975 which have less than 20% of ivory in them
•     Antiques (items made prior to 1947) with less than 10% of ivory
•     Portrait miniatures which are at least 100 years old and are a maximum of 320cm squared 
•     Museum quality objects
•     Items deemed the ‘rarest and most important items of their type’ which are at least 100 years old.

These are very tight restrictions (among the strictest in Europe) and limited items fall into these exemptions. For items to be considered “museum quality” or the “rarest and most important items of their type”, they would need to be registered online and if approved would be eligible for sale or purchase.

In light of the above, it is vital that brokers are speaking with their clients about this new act and how it affects their insurance cover. It appears to be too early for general policies on ivory items and most insurers are dealing with it on a case-by-case basis but clarification on if and how your client’s items are covered is key at this point. Baring the above exemptions in mind, most ivory items no longer have a retail replacement value and so ensuring your client is aware of their insurers current guidelines will safeguard against any loss, damage, or theft. 

For further information on The Ivory Act, please see the following link: https://www.gov.uk/guidance/dealing-in-items-containing-ivory-or-made-of-ivory

To find out more about a valuation of your contents with Quastel Associates, please call 0207 253 1710 or click here.