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Under the LAPADA Antique and Fine Art Dealers Insurance Scheme with Besso International, members are covered up to £30,000 for a single transaction. The cost of the scheme is one per cent or less per annum, based upon an agreed maximum sum per single transaction. Even with this cover, LAPADA are advising members to take security precautions and act as if uninsured when dealing with transactions. “In particular, accepting more than one credit card as payment will not be recognised in the event of a claim,” LAPADA advise.

Authorisation from merchant companies does not automatically give complete protection. It simply means that the card has not been reported stolen, nor is it over the credit limit, out of date or incorrect.

This is also not infallible, particularly where overseas credit cards are concerned.