The Black Box of the Art Business
In Switzerland, covering an area of 120,000 square meters, Geneva freeport shelters tens of billions of Euros of merchandise. A tax free area where the world’s wealthiest, speculators, collectors and art dealers store exceptional wines, diamonds, and especially works of art, in the greatest secrecy. A secrecy that can allow questionable financial operations.
At a time when the secrecy of Swiss banking is under international pressure, art is the new shelter of hidden international finance. Geneva freeport is today a place linked to the concealment of stolen art pieces, money laundering, and tax evasion. Under the freeport’s rules, objects could remain in untaxed limbo, in theory, forever. Treasures have come and they have not left. What does Geneva freeport really contain? Let’s investigate the most secret vault in the world.