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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

Sullivan & Worcester

Thyssen-Bornemisza wins Pissarro painting sold under Nazi duress by Lilly Cassirer

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The U.S. Court of Appeals for the 9th Circuit ruled on January 9, 2024 that the Thyssen-Bornemisza Collection Foundation in Madrid is the owner of Rue Saint–Honoré, après-midi, effect de pluie (1892) by Camille Pissarro, a...more

WilmerHale

Money Laundering In The UK Art Market: Key Risks, AML Rules

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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

Sheppard Mullin Richter & Hampton LLP

For US Art Collectors Shopping in the UK, the Dollar’s Strength is Deceiving

The strength of the US dollar against the British pound – at present, the pound has dropped nearly 18% since the beginning of 2022 – would appear to make the purchase of art and other cultural property in the UK and Europe...more

Sullivan & Worcester

Responsible Art Market Initiative­--Intermediaries and Sustainability in the Art Market January 28, 2022 in Geneva

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After a two-year hiatus, the Responsible Art Market Initiative is planning a return to its in-person annual conference at the end of this month in Geneva. For anyone who has attended RAM events or used its catalogue of...more

Sullivan & Worcester

FinCEN Signals Suspicion of Art Market Even Before AML Study Begins

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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

Patterson Belknap Webb & Tyler LLP

OFAC Issues Advisory on Sanctions Risks Arising from High-Value Artwork Transactions

In many ways, the market for valuable art remains one that depends on long-standing relationships and a high degree of familiarity between market participants. The importance of relationships in the art business makes sense....more

White & Case LLP

COVID-19: Disruption to Art Transactions

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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

Sullivan & Worcester

A Deaccessioning Decision Tree Grows in Brooklyn—Selling Museum Art in Hard Times

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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

Sullivan & Worcester

U.S. Senate Report Takes a Swing at Money Laundering in the Art Market But Strikes Out on Substance

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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

Sullivan & Worcester

Paddle 8 Creditors Battle Over Scope of New York Consignment Law

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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

BCLP

Additional Compliance for the Art World

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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

Fox Rothschild LLP

Christie’s Fall Auction To Feature American Works From $300 Million Barney Ebsworth Collection

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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

Sullivan & Worcester

Berkshire Museum Tries to End-Run Pending Appeal but Member Plaintiffs Decline to be Bullied

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After four months of silence, the Berkshire Museum suddenly demanded last week that my clients dismiss their still-pending lawsuit over the governance of the museum by claiming that the April decision by the Single Justice of...more

Fox Rothschild LLP

Berkshire Museum Falls Short Of $55 Million Goal To Build Endowment And Close Budget Deficit To Ensure Its Future

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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

Fox Rothschild LLP

Over A Dozen Artworks From Berkshire Museum’s Collection Are Cleared For Sale At Sotheby’s Next Month

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In recent art world news, and as a follow up to last week’s post on the Art Law blog, with legal hurdles now overcome, over a dozen artworks from the Berkshire Museum’s art collection are set to be offered for sale at auction...more

Fox Rothschild LLP

Massachusetts High Court Approves Sell Off Of Berkshire Museum Artworks Concluding Legal Battle

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In recent art world news, last week the Berkshire Museum has secured court approval to sell as many as 40 artworks from its collection, including works by Alexander Calder, Albert Bierstadt, Francis Picabia, and Norman...more

Sullivan & Worcester

What About Margarethe Mauthner? Van Gogh Once Owned by Elizabeth Taylor Heads to Auction Again with Scant Mention of its...

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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

Sullivan & Worcester

Members of the Berkshire Museum Ask Supreme Judicial Court to Stop Berkshire Museum’s Deaccession Plan

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(Boston, MA, February 26, 2018) Sullivan & Worcester LLP clients and Berkshire Museum members James Hatt, Kristin Hatt, and Elizabeth Weinberg filed today a brief with the Supreme Judicial Court of Massachusetts asking the...more

Sullivan & Worcester

Members of the Berkshire Museum File Appeal Papers to Stop Museum's Planned Sale of 40 Works from its Collection

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(Boston, MA, January 16, 2018) Sullivan & Worcester LLP has filed its papers in the appeal by 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...more

Sullivan & Worcester

“Building an Art Market 2.0”—Responsible Art Market Initiative Event February 2, 2018 in Geneva

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Readers of the Art Law Report will know that we have regularly touted the collaborative efforts of the Art Law Centre of the University of Geneva, the Fondation pour le Droit d’Art (Art Law Foundation), and now the...more

Sullivan & Worcester

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

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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

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