In March 2017, Artnet reported on The European Fine Art Fair’s (TEFAF) annual assessment of the global art market. TEFAF found that for all of 2016, the global art market generated around $45 billion in revenue. Of this $45 billion, the FBI estimates that nearly $4 to $5 billion in art and artifacts are stolen each year before being sold on the black market. That’s a roughly 11% loss for the market. Art theft can happen almost anywhere, and thieves are bold enough to steal from galleries, auctions, and even private residences.