Laundering

On 10 January 2020 new anti money laundering laws came into force in the UK that have wide ranging, game changing and undoubtedly controversial implications for the art market. The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 are…

Legal Drivers

Banksy began his practice as a freehand street graffiti artist, subsequently using stencils to facilitate the swifter execution of work – and thus avoidance of detection and arrest for criminal damage or trespass to other people’s property. He…

Tariff-Free Art Trade

On Friday 18 October 2019, while the UK House of Commons was preparing to hold the next day’s ‘Super Saturday’ sitting to decide whether to accept the revised UK/EU withdrawal agreement and political declaration that had been…

Collecting Performance Art

A unique art fair exclusively showcasing performance art was held for 72 hours in September 2019 during the Brussels Gallery Weekend. Organised and curated by A Performance Affair (APA), a recently established not for profit share entity,…

Sale or Resale?

When is a sale a resale? The distinction and difference can be significant in the context of artists’ legal right to receive royalty payments as percentages of the price paid when their works are resold in the…

Legacy

There has been significant recent growth in representation by art market professionals of the estates of artists who died in recent times, and such activity is fast becoming an established business specialism within the contemporary art ecosystem. Agents and…

Ownership

When is a ‘work’ completed? Is it when the artist releases it for public viewing, and/or only if released for sale? What is the status of a work an artist (or a deceased artist’s estate) disowns after its release?…

Afterlife of Photographs

On 16 May 2019 the fifth edition of the international photography fair, Photo London, opens at Somerset House. 100 or so specialist galleries from around the world will exhibit for sale photographic works by over 400 artists…

Digital Single Market

On 13 February 2019 in Strasbourg the EU agreed to introduce new copyright rules to create a fair, transparent and predictable business environment for users of online platforms. Key features of these rules include new exceptions to…

Authentication

Works by African American artists have recently been achieving unprecedented interest in both museum and art market worlds, possibly stimulated by the critical success of Tate Modern’s 2017 show ‘Soul of a Nation: Art in the Age of Black…

Living Legacies

Two interesting new tools have recently been published to help artists plan their legacies. In October 2018 the UK’s Art360 Foundation launched a free app designed ‘to make archiving and cultural preservation skills available to all’, and the…

Love & Money

There has been an unprecedented amount of media coverage of Banksy’s Girl with Balloon (2006) shredding incident since it took place at Sotheby’s London’s evening sale of contemporary art on 5 October 2018. But none of this…

Scarcity

On 3 September, the United Arab Emirates’ Department of Culture and Tourism announced the ‘postponement of the unveiling of Leonardo da Vinci’s Salvator Mundi’, and promised that ‘more details will be announced soon’. No details have yet been given…

Style, Content and Plagiarism

‘Cultural appropriation’, ‘unethical borrowing’, ‘plagiarism’ and ‘rip off’ are recent headline grabbing media comments criticising a photoshoot of Rihanna published in Vogue Paris in December 2017. In July 2018, Twitter user STEVE JXSEPH @STEVEJXSEPH posted on…

Blockchain

It is a decade since the conceptual invention of ‘block chain’ technology, which envisaged the creation of a permanent and continuous digital list of records (blocks) of transactions linked (chained) using encoded cryptography to prevent modification of data. Implemented…

Reputation: Art & Artists 

Last month’s column explored the fragility of the public reputation of art business professionals in the digital age, highlighting how traditional laws of defamation are invariably unfit for the purposes of deterring or preventing social media…

Reputation

‘It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.’ As legendary business magnate Warren Buffet says, reputation is hard won yet fragile. His remark responds to…

Fair Deals           

Cultural tourism is a rapidly growing sector of the broader tourism market and has become a thriving worldwide business. A key component of this expanding trade is art tourism that has significantly contributed to the globalisation of the…