If you have inherited ivory, then you should familiarise yourself with the strict laws that govern the buying and selling of ivory in the UK.
In this post we will outline the UK laws for handling ivory, and assess how these might affect how you manage your inheritance.
Is Ivory Illegal?
Under the Ivory Act 2018, it is illegal to buy or sell most items containing ivory in the UK. The law extends to items that incorporate ivory from elephants, hippos, and marine animals such as narwhals, killer whales, and sperm whales. There are separate laws for items containing ivory from species that are not specified in the Ivory Act 2018, such as ivory from walruses.
The penalty for dealing in ivory items, or for making it possible for others to buy or sell ivory, is a fine of up to £250,000 and up to five years in prison.
Ivory Exceptions to Ivory Laws
However, there are a few exceptions to this law. If you do want to buy or sell ivory items, you need to apply for an exemption. You also need to apply for an exemption if you want to display ivory items in a public gallery, or if you want to export ivory items to an overseas location.
Do You Need To Apply For An Exemption for Inherited Ivory?
It all depends on what you intend to do with the inherited ivory.
If you inherit an ivory item, and you simply wish to keep it in your personal collection, then you do not need to apply for an exemption. You are also free to leave the item to beneficiaries in your will, and to lend the item to others so long as the transaction does not involve any exchange of money or other goods.
You can also give ivory items away as gifts, so long as you are not donating them for display in public. If you wish to donate ivory items to a museum or a gallery, then special rules will apply.
What If I Want To Sell My Inherited Ivory?
As we mentioned above, if you inherit ivory and you want to sell it, then you may have to apply for an exemption.
Remember that, in UK law, it is also illegal to make it possible for others to buy or sell ivory. This means that you still need to apply for an exemption even if you wish to simply donate the ivory item to an antiques store or a second-hand shop.
For some items, you will be able to apply for a standard exemption, which costs £20 per item. Ivory items eligible for standard exemptions include:
- Items you are selling or lending to museums.
- Portrait miniatures made before 1918.
- Any item made before 3 March 1947 containing less than 10% of integral ivory by volume.
- Any musical instrument made before 1975 containing no more than 20% of ivory by volume.
If you wish to sell any ivory item that does not meet this criteria, you will first have to apply for an exemption certificate. This costs £250, and the process includes an assessment by the Animal and Plant Health Agency to determine the item’s “artistic, cultural, or historic value”.
As you can see, the type of exemption you need will depend on the item’s age, and on how much ivory it contains. You may need to consult an expert for an appraisal in order to fully understand how to manage your inherited ivory.
How To Apply For An Ivory Exemption
First, use the government’s online ivory eligibility checker to determine what sort of exemption you will need, whether this is a standard exemption or an exemption certificate.
Once you know what kind of exemption you need, you can apply online.
Getting The Right Protection For Your Inherited Ivory
Despite the strict laws, ivory items can still be highly valuable. As a result, whether you want to keep your inherited ivory, donate it to others, or sell it, you should take steps to properly value your items, and to keep them safe.
To begin with, take the time to document every ivory item you inherit. Take photos, and record as many details about the item as you can. Also try to find out as much as possible about the item’s provenance – when it was made, how it was obtained etc.
Next, consult an expert to help you accurately determine the age and value of every ivory item you inherit. This will also help you decide what kind of exemption you need, should you wish to sell or donate the ivory.
Once you have an accurate value for every ivory item you inherit, if the valuation deems them to be of high value, consider discussing your requirements with a specialist high net worth insurance broker who can help you arrange suitable cover, subject to policy terms, conditions and exclusions. And remember that an item’s value can fluctuate over time. So, if you wish to keep the ivory items for yourself, it is a good idea to get periodic fresh appraisals in order to ensure that your sum insured and specified item values remain adequate following future valuations
Talk To James Hallam About Your High Net Worth Insurance Needs
James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who are committed to getting you the cover you need.
Talk to us, and we can help to ensure you have suitable cover to protect your home and contents, including any ivory or other high value items in your home.
Get in touch for a free quote today.