Mexican Art World Suffers in Wake of Anti-Drug Money Laundering Law

September 19th, 2014

Dealer Oscar Roman, via Washington PostAn anti-drug trade law blocking anonymous cash purchases and requiring more federal oversight on high-worth transactions in Mexico has had a stifling effect on the country’s art galleries, preventing the anonymous purchases that are often the norm at the high end of the market.   “This has obviously affected the sales. Because there are people who are afraid, and they say, ‘I’m going to wait,’ or, ‘I don’t want to buy,’ ” says auction house director, Luis C. Lopez Morton. “They feel uncomfortable. They feel that the government is watching them.”Read more at Washington Post