Is the art market a truly global market? How is the art market affected by national heritage protection regulations, in particular those regarding border controls restricting exportation of cultural property? Does the art trade require national or supranational control? And what is the optimal level of regulation and compliance that the art market requires? Or is the invisible hand of the market a sufficient (or better) regulator of the public and private interests involved in the art market? A panel of distinguished lawyers and industry experts will present opposing views on the above issues, focusing on different crucial aspects of the art market. Part 1: political and economic implications of export permits, the macro view Part 2: export control in theory and practice - How does export control works in four jurisdictions with different legal and heritage backgrounds? Part 3: interactive case study Part 3 will be an open discussion of a fictitious case involving the sale of a piece of art at a low price and its subsequent export by the buyer from one EU country to another where the piece is resold and subsequently exported outside Europe. Both export 1 and 2 have been approved by proper authorities for export, the first such export on the basis of an application which very broadly but accurately describes the piece of art to be exported, specifying the purchase price, but not its age. When it is later found out that the piece could be a very valuable old masterpiece, can the original sellers do anything and rescind/challenge/attack the sale? Can any of the export authorities revoke their respective export license? What effect, if any, on each of the sellers/buyers, if the original sellers and/or the export authorities do?