Sunday, June 22, 2014
The Fish and Wildlife Service’s new ivory regulations will act as a “nearly complete ban” on the import, export, and sell of ivory, according to the FWS website. Many antique and inherited pieces that include ivory will be illegal to sell in the U.S. This will leave many heirs with inherited pieces that cannot be auctioned off. Some pieces that include ivory may still qualify for the “antiques exception,” but getting the antique qualified as such will be much more difficult, and the exact procedure that should be followed to do so is still unclear.
See Patricia Atwood, Zero Fair Market Value for Antiques, Wealth Management, June 19, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.