Rothko Ruling Shows Limits of Art-World Secrecy…and that’s a good thing!

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Art Law

This case sheds light to the validity and enforceability of Confidentiality Agreements used in an attempt to protect the anonymity of sellers of fine art. It is encouraging to see that the courts ruled in favor of limiting the coverage of such agreements, and as such, the liability to the counter parties involved in a fine art purchase. As it … Read More

Wealthy Families Wipe Out Tax By Handing Over Art

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This article centers around tax law in the United Kingdom, but some of it is applicable to the United States and other countries. Of course, selling-off valuable art pieces is an excellent option for heirs who owe estate taxes and inherit fine art. This was the case in the example below surrounding David Bowie’s estate, and this option is available … Read More

The Art Market and The Tax Man

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This is a very informative and interesting article that focuses on New York tax laws in relation to fine art sales and purchases. However, one need not live or transact business in New York to benefit from some the important tax and use rules spelled out herein. What applies in New York is in fact applicable to many, if not … Read More

HOW TO AVOID BUYING FORGERIES.

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collecting art

The article below should serve as a wake-up call to anyone purchasing investment quality fine art. The sum involved in this case was approaching seven figures, however, this type of thing can happen at any price level. Obviously, the more money involved the greater the temptation to commit fraud, and as we see here, even a well-heeled professional with a … Read More

New Technology may Fight Forgeries in the Art Market

KatherineArt Authentication, Art Market1 Comment

art market transparency

Art value is reliant on originality. This is tracked and recorded through copyright and provenance. The system is not always perfect. Forgeries and plagiarism can slip through the cracks. However, new advancements in technology may be the key in solving these issues. Blockchain, the program that made Bitcoin possible, is finding new uses in encryption. This software could provide the creative … Read More

Don’t Get Burned Buying Fine Art!

KatherineArt Collecting Advice, Helpful Tips1 Comment

buying fine art

Aside from the usual art scams such as being sold fakes and getting ripped off by galleries and dealers who grossly overcharge for artworks, collectors face another existential threat, which is the topic of the article below. The collector in this story is not a novice and should have known better, but hey, we all make mistakes. One of the … Read More

Be Smart When Hiring an Art Appraiser

KatherineArt Collecting Advice1 Comment

Art appraisals are an important part of assessing value for an artwork. This is needed for selling art, donating art, and for some tax and financial purposes. Due to the shifting nature of the market, it’s best to appraise art every 2-5 years. There are several factors to consider when hiring an art appraiser. An improper or biased evaluation could misrepresent … Read More