News & Analysis as of

Art

Kohrman Jackson & Krantz LLP

The Case of the Missing Head: The Cleveland Museum of Art to Return Statue to Türkiye

In 2023, the New York County Manhattan District Attorney’s Antiquities Trafficking Unit, or NYATU, had seized a statue in the collection of the Cleveland Museum of Art for repatriation to the Republic of Türkiye. CMA acquired...more

Offit Kurman

Not Discussing Collections with Heirs

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A collection may hold deep personal significance for a client but may not carry the same sentimental or financial value for their heirs. It is essential to encourage clients to have open conversations with their heirs, as...more

Sullivan & Worcester

Making Sense of Canada and Mexico Tariffs in the Art Market

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Making Sense of Canada, Mexico Tariffs in the Art Market - On March 4, 2025, the White House officially announced the commencement of supplemental 25% ad valorem tariffs on products from Mexico and Canada above the...more

Offit Kurman

Not Properly Insuring a Collection

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Accidents happen—whether a piece of artwork or a collectible is damaged in shipping, affected by fire or water or even knocked over by Steve Wynn’s elbow. Having the right insurance in place can help mitigate financial losses...more

Offit Kurman

Not Keeping Records of Your Purchases and Sales, Location, and Authentication Documents – Implications of Restrictions and...

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The provenance of any item is essential to determining its value. Proper documentation of an item’s history and proof of chain of title help establish authenticity, ensuring the highest fair market value at the time of sale....more

Offit Kurman

Not Hiring a Qualified Appraiser and Realizing the True Value of Art and Collectibles

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For federal estate and gift tax purposes, transfers are valued at the “fair market value” of the asset on the date of transfer. One of the more common estate tax audit issues is the failure to properly report the value of...more

Shook, Hardy & Bacon L.L.P.

Authenticity Case Brought Against Florida Gallery

The question of how much diligence buyers must demonstrate may be considered in a new authenticity case brought recently in the Miami-Dade County Circuit Court against a Miami gallery for selling $6 million in fake Andy...more

Offit Kurman

Not Maintaining an Up-to-Date Inventory of Art and Collectibles for Estate Planning

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A well-organized inventory is essential for effectively managing and planning the distribution of collectibles, including art. Clients may struggle to track their assets without an inventory, making future distribution and...more

Offit Kurman

The Hidden Cost of Failing to Plan

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Art and collectibles, while beautiful and culturally significant, can pose significant estate planning challenges. At the time of death, these assets are subject to estate taxes based on their fair market value. Without...more

Offit Kurman

Adopting the Moving Van Approach

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When it comes to estate taxes, the Internal Revenue Service (IRS) expects all tangible personal property to be properly reported on Schedule F of Form 706. This includes any valuable assets such as art collections, antiques,...more

Offit Kurman

The Top 10 Mistakes Made When Planning for Art and Other Collectibles: A Guide for Professionals and Their Clients - Mistake #1

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Navigating the tax landscape for art dealers, investors, and collectors can be a complex endeavor, but proper classification is key to maximizing tax savings and avoiding pitfalls....more

Arnall Golden Gregory LLP

The Pitch - December 2024

The Pitch newsletter is a monthly update of legal issues and news affecting or related to the music, film and television, fine arts, media, professional athletics, eSports, and gaming industries. The Pitch features a diverse...more

International Lawyers Network

One Sheet To Rap Sheet: Evaluating Proposed Federal Rule For Using Lyrics & Creative Writing To Prove Crimes

In a list of Music Industry Terms Every Artist Should Know, “One Sheet” is defined as a “single-page document that highlights an artist’s new music and summarizes their bio, stats, and achievements. It’s given to media,...more

Sullivan & Worcester

Allentown Art Museum to Auction Cranach Painting Once Owned by Collector Persecuted in Nazi Germany

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I was proud to advise the Allentown Art Museum, which announced today that it has reached an agreement with the heirs of Henry and Hertha Bromberg concerning Portrait of George, Duke of Saxony by Lucas Cranach the Elder and...more

Sullivan & Worcester

Schiele Drawing Returned to Heirs by Family that Also Fled Nazi Persecution

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I attended today’s press conference at District Attorney Alvin Bragg, Jr.’s office in Manhattan at which a drawing by Egon Schiele, Seated Nude Woman, Front View, was transferred to the heirs of Fritz Grünbaum. I represent...more

Flaster Greenberg PC

What To Do If You Inherit Fine Art: Flaster Greenberg

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Inherited art can be sentimental, beautiful, and valuable, but it can sometimes feel overwhelming. Depending on your personal situation, you have several options: you can keep and preserve the artwork, donate it to charity,...more

International Lawyers Network

The Ownership Debate: Intellectual Property in AI. Who Does It Belong To?

With the rise in the use of artificial intelligence (AI) in all forms, the question is becoming more present than ever – who owns the intellectual property in a work created with the use of AI?...more

Seyfarth Shaw LLP

Glimmer of Hope? Judge Suggests Some Claims in AI Image Case May Survive

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We are still waiting for a formal ruling on the Andersen v. Stability AI defendants’ second round of motions to dismiss, but so far it’s looking like most of the case may be allowed to proceed to discovery. The judge heard...more

Williams Mullen

PODCAST: Williams Mullen's Trending Now: An IP Podcast - Artificial Intelligence: Issues Affecting Creators, Writers and Artists

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In this episode of Trending Now - An IP Podcast, Janet Cho and Amy Pruett provide an update on recent cases and some of the legal issues involved with using datasets to train AI models....more

K&L Gates LLP

Litigation Minute: The Generative AI Litigation Landscape (Generative AI Series: Part One of Three)

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What You Need To Know In A Minute Or Less - Beginning in 2023, courts across the United States have grappled with a wave of lawsuits challenging the legality and use of generative artificial intelligence (AI) systems and...more

Seyfarth Shaw LLP

The Legal Landscape of Fan Art

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In the digital age, fans have embraced the opportunity to put a spin on famous corporate logos. Reimagining logos may be a way for consumers to express a connection they have to the brands, teams, and franchises they love and...more

Conyers

The Artful Trustee: Practical Tips for Holding Artwork in Trust Structures

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Acquiring artworks, antiques, and other collectibles is a common pastime of private clients, for reasons that can vary greatly from profit-making to maintaining cultural ties, or simply as a general reflection of their...more

Patterson Belknap Webb & Tyler LLP

U.S. Copyright Office Proposes Rule for Group Registration of Published Two-Dimensional Artwork

On February 15, 2024, the United States Copyright Office published a notice of proposed rulemaking, proposing to create a new group registration option for published two-dimensional artwork. Currently, the Copyright Office...more

Sullivan & Worcester

Best Practices for Nazi-Era Art Presented at Special Event in Washington

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I was honored to be among the speakers this week at the United States Holocaust Memorial Museum on March 5, 2024. Convened by the World Jewish Restitution Organization and the U.S. State Department, the event announced the...more

Seyfarth Shaw LLP

Reader Poll on Stability AI Outputs—The Results Are In!

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Last week, we asked for your input on whether certain images generated by AI programs were substantially similar to the Plaintiffs’ original artworks, as alleged in Andersen v. Stability AI....more

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