Private Treaty Sales Items which have been granted Conditional Exemption from Inheritance Tax (or one of its predecessors) can be purchased by a Schedule 3 body (which includes most public museums, galleries and archives in the United Kingdom) at a price which is beneficial to both public purchaser and private vendor. This is known as a Private Treaty Sale (PTS). Where an item has been granted Conditional Exemption from Inheritance Tax, which would have been payable at 40% had exemption not been claimed, and it is then sold to a public body, under normal circumstances the purchaser is only required to pay about 70% of the agreed open market value. So an item which is valued at £100,000 can be acquired for £70,000. In most cases, owners of Conditionally Exempted items are required to give MLA three months notice of the intention to sell exempted items. You will find below the details of any items which we are notified as coming up for sale. Further details of these items and how Private Treaty Sales are conducted can be obtained from Gerry McQuillan, Head of the Acquisition, Export and Loans Unit at MLA on 020 7273 1456 or email gerry.mcquillan@mla.gov.uk PTS Guidance Notes  Private Treaty Sales Guidance Notes (Word 51KB)
Notices of Intention of Sale MLA has been informed of the intention to sell the following items which have previously been exempted from tax. Please note that the price given is intended as a rough guide only, and does not constitute an offer to sell at this price. | | | |  Fatimid Carved Rock Crystal Ewer
Late 10th century - Early 11th century
Mounted by Jean-Valentin Morel
Sevres 1852-1860
Christie's 7th October 2008 Guide price £5,000,000 | | | |
 Turner, J.W.M
Rome from the Monte Mario
watercolour over traces of pencil, 1820
Sotheby's 3rd December 2008 Guide price £400,000 - £600,000 | |
| |  Turner, J.W.M
Venice from Fusina
watercolour over pencil, 1821
Sotheby's 3rd December 2008 Guide price £700,000 - £1,000,000 | | |
 A set of four George III silver candlesticks
Mark of Ebenezer Coker, London, 1767 Christie's 25th November 2008
Lot 134, sale 7628 Guide price £12,000 | |
Sickert, Walter Richard The Foyer of the Circus
oil on canvas Christie's 12th December 2008 Guide price £180,000
| For further details please contact: Gerry McQuillan
Acquisition, Export and Loans Unit
MLA
Wellcome Wolfson Building
165 Queen's Gate
South Kensington
LONDON SW7 5HD Direct Line: 020 7273 1456
Direct Fax: 020 7273 1424
Email: gerry.mcquillan@mla.gov.uk
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