International laws such as Unidrois convention that deal with cases of disputed cultural property (Through their adoption by UNESCO) are seen by many as a good thing – although clearly not by all, as many countries have yet to subscribe to these conventions. The conventions do not act retrospectively however – so there is a strong argument that they have created a division in the market – between those artefacts acquired before the convention came into force & those acquired afterwards. Many collectors fear that these conventions are devaluing their collections – but this point is counterbalanced byt the fact that is the artefact was acquired legitimately & has good provenance (which is the only real way of proving that it was acquired legitimately) then there should not be any problems.

From:
New York Times

Auctions
Wanted: Antiquities Beyond Reproach
By SOUREN MELIKIAN
Published: December 17, 2010

NEW YORK — The impact of the Unidroit convention, adopted by Unesco when endeavoring to protect the artistic heritage of mankind, starting with its archaeological treasures, is beginning to make itself as never before, although not quite in the way that its promoters expected.

By all accounts, the terrifying destruction of archaeological sites goes on, from Syria to Afghanistan to Nepal. But on the auction scene the consequence of Unidroit, to which only a few countries subscribe, is that some collectors live in fear that their favorite game, buying the relics of antiquity, may soon end. Many suspect that objects that cannot be proved to have been acquired before 1970 — the cutoff date set by the Unidroit convention — will become financially worthless or exceedingly difficult to negotiate.
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