Paris will soon replace London as the art capital of Europe, warns art fair founder.

After the U.S., the UK is the world's second-biggest market for art and antiques. But Brexit and the pandemic were major blows to sales in Britain last year, which slumped by 22 percent to $9.9 billion – the lowest level in a decade.

Sector faces ‘logistical minefield’ of customs declarations and VAT codes as stores and markets prepare to reopen.