News & Analysis as of

Art

Art in Public Places: Regulatory Burden or Opportunity?

by Bilzin Sumberg on

The concept of art in public places is well-established in the United States. As early as the 1930s, the federal government created New Deal programs that paid artists to create works of art for display in municipal buildings...more

Authenticating The $450.3 Million Leonardo da Vinci Masterpiece With Science

by Fox Rothschild LLP on

Some in the art world may not know that the 500-year old masterpiece painting Salvator Mundi (“Savior of the World”) by Leonardo da Vinci that recently sold for nearly half a billion dollars is imperfect. The work with a...more

Members of the Berkshire Museum Appeal Ruling on Planned Sale of Critical Pieces of its Collection

by Sullivan & Worcester on

Sullivan & Worcester LLP has filed an appeal on behalf of its clients, the members of the Berkshire Museum who sued to enjoin the museum’s sale of 40 works of art and sculpture. The appeal is brought as a result of the...more

History Made At Christie’s Postwar And Contemporary Art Evening Auction With Sale Of $450.3 Million Leonardo da Vinci Work

by Fox Rothschild LLP on

In recent art world news, a painting by Leonardo da Vinci, Salvator Mundi (circa 1500) sold for $450.3 million on Wednesday evening at Christie’s postwar and contemporary art auction. The sale of the rare masterpiece...more

Sotheby’s Posts $23.5 Million Net Loss Ahead Of Expectations During Traditionally Slow Third Quarter

by Fox Rothschild LLP on

In recent art world news, Sotheby’s posted a $23.5 million net loss during the traditionally slow third quarter, up 57 percent from last year, announced by the auction house in its quarterly earnings call last Friday. The...more

Masterpiece by Bernardo Bellotto Purchased by London National Gallery Consequent to Temporary Export Bar

Art export laws are designed to prevent art and artifacts of significant cultural value from leaving its country of origin while also preserving the home country’s competitiveness in the international art market. Many...more

Eighteenth Century Masterpiece Painting Missing For More Than A Century Is Hiding In Los Angeles

by Fox Rothschild LLP on

An intriguing story recently ran in the Los Angeles Times regarding an 18th century masterpiece painting that has gone missing for more than a century. The mysterious painting seems to have been hiding in plain sight in a...more

Léger Work Estimated To Sell For $65 M And Set New Record For The Artist To Lead Christie’s Impressionist And Modern Art Auction...

by Fox Rothschild LLP on

In recent art world news, a never before auctioned work, Contraste de forms (1913), by French artist Fernand Léger is to lead Christie’s Impressionist and Modern Art evening auction in New York this fall. The vibrant...more

Are Warhol Works Meticulously Recreated By British Artist 30 Years After Warhol’s Death Authentic Warhol Paintings?

by Fox Rothschild LLP on

In recent art world news, British artist Paul Stephenson has recreated some of Andy Warhol’s most celebrated works using the exact same materials and methods as the late artist. This has sparked a lively debate as to what...more

No Buyer For High Profile Francis Bacon Painting At Christie’s $130 Million Contemporary Art Auction In London

by Fox Rothschild LLP on

In recent art world news, Christie’s fetched $130 million during its recent postwar and contemporary art auction at its Kings Street salesroom in London last Friday evening achieving a solid sell-through rate of 83 percent. ...more

Francis Bacon Painting Hidden From Public View For 45 Years Could Set New Auction Record In Europe

by Fox Rothschild LLP on

In recent art world news, a painting by the late figurative artist Francis Bacon that has been in a private collection for the past 45 years and never loaned could become the most expensive art work ever sold at auction in...more

Former Knoedler Gallery Director Settles Final Lawsuit

by Fox Rothschild LLP on

In recent art world news, one of the largest art scandals in New York has come to a close with the recent settlement of the last of ten lawsuits brought against Ann Freedman, the former director of the now defunct Knoedler...more

There’s No Crying In Baseball (Even When It Rains) – Famous Rockwell Painting Of Three Umpires Assessing Rain Sells For $1.6M At...

by Fox Rothschild LLP on

Norman Rockwell is as famous as apple pie for his iconic depictions of American life. Once shunned by the art world as an ordinary illustrator, Rockwell’s saccharine vignettes are now prized paintings....more

International Foundation For Art Research (IFAR) Issues New Provenance Guide

by Fox Rothschild LLP on

In the wake of more WWII/Nazi era stolen art legal battles, the International Foundation for Art Research (IFAR) has issued a new Provenance Guide, which highlights the importance of archival research, and states that...more

Sotheby’s London Sells Portrait Of An Old Women As Authentic Rubens And Fetches 20 Times The Original Hammer

by Fox Rothschild LLP on

In March 2016, a US auction gallery sold an Old Master oil painting (a sketch of an old woman) for $27,000. The sale price was nearly double the high auction estimate of 15,000. However, when the same painting was recently...more

Five Prerequisites For Sign Approval From The Philadelphia Art Commission

by Fox Rothschild LLP on

Are you looking to replace or construct a new sign in Philadelphia? Depending upon where your property is located you might first have to get approval from the Philadelphia Art Commission....more

Lessons Re-Learned From The No-Longer Highest Price Painting In History

by Fox Rothschild LLP on

A recent trial in the High Court in London has highlighted a few notable truths about doing business in the art world. The trial centers around a commission allegedly owed to the famous Swiss auctioneer Simon de Pury, who...more

De Sole et al. v. Knoedler Gallery, LLC et al.: #FAKES

In the past, when one thought of “art” and “risk,” World War II–era looting and restitution often came to mind. While these issues are certainly still prominent, the importance of due diligence and risk management have...more

Trio Charged In New York For Selling Counterfeit Art Works

by Fox Rothschild LLP on

In recent art news, known art fraudster Vincent Lopreto, who previously served time in prison for selling forged Damien Hirst prints, was charged in a Manhattan courtroom yesterday for selling nearly half a million dollars...more

Another Trash To Treasure Tale – Jackson Pollock Found In Garage To Be Sold This Month

by Fox Rothschild LLP on

A Jackson Pollock painting possibly worth over $15 Million was found in a garage in Arizona among other knick-knacks and memorabilia. The painting was located because the homeowner was downsizing and moving to a retirement...more

Art Basel Opens This Week In Basel, Switzerland

by Fox Rothschild LLP on

In recent art world news, premier international art fair Art Basel opens later this week on Thursday, June 15, 2017 and runs through the entire weekend in Basel, Switzerland. In this art collectors’ paradise, modern and...more

Rockefeller Estate To Be Auctioned Off For Charity May Break Record For Most Valuable Collection Ever Sold At Auction

by Fox Rothschild LLP on

In recent art world news, Christie’s in New York announced this week that it will auction off 2,000 items from the estate of the late David Rockefeller, who was the last living grandson of American industrialist John D....more

Basquiat Painting Sells For $110.5 Million At Sotheby’s Auction And Sets A Number Of Records

by Fox Rothschild LLP on

In recent art news, a vibrant painting of a skull, “Untitled” (1982), by the late artist Jean-Michel Basquiat sold for $110.5 million at Sotheby’s last Thursday evening and earned the distinction of becoming the sixth most...more

Dutch Restitution Policy For Return Of Nazi Looted Art Under Scrutiny

by Fox Rothschild LLP on

In recent art world news, recent restitution efforts of the Netherlands for returning looted art have come under scrutiny. Some international critics assert that Dutch policies for restitution of looted art have become...more

Stolen Norman Rockwell Returned After 40 Years

by Fox Rothschild LLP on

ArtNet news recently reported that the painting of a slumbering child painted by American illustrator Norman Rockwell (pictured below) has been returned to its rightful owners by the FBI. The recently recovered work has been...more

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