On Jan. 1, 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA) which expanded the definition of “financial institution” to impose anti-money laundering (AML) requirements on persons “engaged in the trade of...more
March is over, a new month begins. Congrats on the Final Four to the Zags, Cougars, Bears and Bruins. Opening Day is upon us, it’s time to play ball, And battle for the World Series title deep into the fall. Enough setting...more
Early last week the online auctioneer Paddle 8 filed for Chapter 11 bankruptcy in the Southern District of New York, on the heels of a recent lawsuit demanding payment for works of art sold at a charitable auction last...more
Individuals, trusts and companies buying or selling art via UK galleries and auction houses will now be subject to the same customer due diligence checks as those opening bank accounts in the UK. What has changed? The...more
While the incomparable Goodnight Moon by Margaret Wise Brown and illustrated by Clement Hurd does not take place in Dresden, that is where today brought news of a robbery at the Staatliche Kunstsammlungen Dresden, the State...more
What do people see when they look at a piece of fine art—such as a painting by Cezanne, a sculpture by Giacometti, or a three-dimensional combine by Rauschenberg? To a great extent, it depends on who’s doing the looking. An...more
Artists and art owners (“Owners”) commonly exhibit artwork through consignment agreements with art galleries. However, when Owners fail to protectt their interests in consigned pieces, they stand to lose all of their...more
In the financial industry, companies engaging in million-dollar transactions invest in the latest in technology in order to safeguard valuable assets. However, in the art world—a market built on relationships and...more
In recent art news, the gap between small galleries and large galleries is widening at a steady pace as a number of small to midsize art galleries have closed their doors since 2012 to present and the numbers are remarkable. ...more
For several years the topic of litigation against appraisers and authenticators has been a controversial issue, causing a number of artists’ foundations and independent professionals to refrain from giving opinions for fear...more