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
We have been writing a lot recently about trends in the global market for fine art. One specific area that deserves attention is steps taken to stamp out laundering illicit funds via the art market, such as through auctions...more
Non-Fungible Tokens (NFTs) are the latest development in disruptive blockchain technology innovations, this time in the world of digital art, collectibles, and even luxury goods. Traditional auction houses have already...more
Seven Important Traits - Attempting to value NFTs is a speculative and challenging practice, in part because they are still relatively new and there are few comparable assets. The newsletter Bankless gives seven traits to...more
In connection with the late-2020 amendment to the Bank Secrecy Act (BSA) to include “dealers in antiquities” as a result of its inclusion in the National Defense Authorization Act (NDAA), the Treasury Department’s Financial...more
Join us for a discussion of estate and philanthropic planning for art and other valuable collections. Topics to be covered include: - Collection ownership and management to protect the value of the collection (document,...more
It would be a truism to note that COVID-19 has had a profound impact on many sectors globally. The art industry, which relies considerably on the human interaction between art dealers, artists, and members of the public, is...more
Robin Pogrebin at the New York Times has written an excellent piece on the news that the Brooklyn Museum intends to sell several works from its collection to raise money. The museum explicitly relies on the pandemic-inspired...more
A recent report by the U.S. Senate Permanent Subcommittee on Investigations (headlined by Chairman Senator Rob Portman, Republican of Ohio, and Ranking Member Tom Carper, Democrat of Delaware) has drawn widespread attention...more
Since online auctioneer Paddle 8 filed for bankruptcy protection in March, creditors of the company have begun filing their notices of claim in the bankruptcy case. One thing on which the creditors all seem to agree is that...more
With the global economy reeling from the direct effects of the COVID-19 pandemic, no sector is spared from its impact, including the art market. As auction houses seek to find ways to sustain business during this time of...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
In recent art world news, more than 85 works from Barney Ebsworth’s art collection will be on the auction block in November at Christie’s in New York. The late travel entrepreneur’s collection is estimated at over $300...more
In recent art world news, a Norman Rockwell painting titled “Blacksmith’s Boy—Heel and Toe” (1940) from the Berkshire Museum’s collection sold for $7 million (with buyer’s premium added, the figure is about 8.13 million) to a...more
Since the passage in 2016 of the Holocaust Expropriated Art Recovery (HEAR) Act, many commenters (here included) have grappled with what the implications of the law will be on the scope and frequency of future claims. Even as...more
(Boston, MA, February 13, 2018) Sullivan & Worcester LLP clients and Berkshire Museum members James Hatt, Kristin Hatt, and Elizabeth Weinberg sharply denounced today the agreement that was announced Friday evening between...more
Please join Christie’s and the Locke Lord LLP Art Law Group for an informative discussion on current lending issues affecting art. Wednesday, February 21, 2018, 11:00 a.m. - 12:30 p.m. (Central. Program will promptly begin...more
The Single Justice of the Massachusetts Appeals Court (Joseph A. Trainor) has extended the injunction against the Berkshire Museum's proposed sale of 40 works of art in its collection until at least January 29, 2018. In its...more
Forty Masterpieces of American and European Art Scheduled for Auction - (Boston, MA, October 26, 2017) Sullivan & Worcester LLP has filed a lawsuit on behalf of Berkshire County residents and members of the Berkshire...more