Apr 03, 2019
While it would seem to be good public policy to enact legislation that will prevent money laundering, terrorism, and fraud, art market leaders are concerned that money laundering in art transactions is not a big enough issue to justify the regulatory burden.
Source : New York Law Journal
Feb 14, 2017
Sometimes, the only thing that separates a collector from a lengthy, pricey legal battle is some good professional advice. Hiring a savvy lawyer long before things get hairy can be one of the smartest, most proactive choices you can make to ensure that your art remains rightfully yours, that when you loan it out or bequeath it to an heir, the agreements align with your wishes. Lawyer Jonathan Freiman of Wiggin and Dana LLP offers a succinct explanation of when you should hire a lawyer: “buying, selling, lending, and defending.” These activities all involve risk, and a professional can help you better understand--and minimize--this risk. Of course, only some transactions / issues ...
Jan 17, 2017
As we ring in 2017, we also usher in a new round of pledges to ourselves. We resolve to eat healthier, contribute to our communities, and be kinder to others.
As you reflect on the past year and plan for the next, don’t forget about your art. Take small measures now to ensure that some of your most beloved assets are in good shape. You’ll be saving yourself major headaches down the road. We asked seven professionals from different areas of the art world to suggest New Year’s resolutions that collectors and businesses should make. Read on for expert advice that spans technical, legal, and financial considerations. No matter how your new personal resolutions go, your art wil ...
Jan 12, 2017
By Rayah Levy, Art Market Expert, CEO: ArtéQuesta and AOHFA
For years Holocaust survivors and their heirs have had to jump through bureaucratic hoops to recover art stolen from them during World War II. In many cases, looted works are now in museums and private collections, making the struggle for restitution even more complex.
But on December 16th, President Obama signed the Holocaust Expropriated Art Recovery (HEAR) Act into law, a victory for those seeking Nazi-Looted Art, which will help ease those challenges.
"The HEAR Act will end an enduring injustice for Holocaust victims and their families." – President Obama
Dec 15, 2015
Holocaust art recovery cases are the most compelling cases in fine art law. We cheer for the families who have spent generations trying to recover their priceless treasures systematically stolen by the Nazi regime before and during World War II. On Oct 2015, United States Court Appeals affirmed in favor of Yale University in a case brought against them by a man whose grandfather's Van Gogh was seized by the Bolsheviks as “state property" in 1918. So, apparently not all tyrant art seizures are considered equal. For sure, a potential can of worms exists if we second guess a foreign state’s government conduct towards its citizens. Do we really want to question a government seizure f ...
Oct 14, 2015
by Leila Amineddoleh. Since the first lawsuit against the Knoedler Gallery was filed for selling forgeries, the art world has been abuzz with stories of high-end fakes. However, forgeries are not a new phenomenon. The law of supply and demand dictates that there will be no end to the rising value of artworks done by the hands of “masters.” And with soaring market prices, art forgery will proliferate as forgers find incentive in skyrocketing sales. At the heart of forgery disputes is the determination of authenticity. Who makes these determinations? How does the market and legal world handle a battle of experts? Moreover, what remedies are available to disappointed buyers? The bes ...
Jun 29, 2015
Creating a Serious Art Collection
Anyone with a passion for art and some discretionary funds can buy a few collectables for their home. It’s a lovely idea and we hope everyone enjoys art as an integral part of life. But collecting is much more than hanging a painting over your sofa. It’s a leap into the heart of the art world, a strange and wonderful junction where love, taste and commerce meet. When you are ready to get serious about collecting, it’s smart to consult professionals who will help you navigate the complex process of creating and nurturing your collection.
Here are the seven experts you should tap when you get serious about art: Art Title Provider, Art Consu ...