While 2022 held several lessons for art market participants – from NFTs to Treasury regulations – the end of the year brought a reminder particularly for antiquities collectors of the need to carefully consider the provenance and history of objects
The sudden emergence of the COVID-19 pandemic in the U.S. in March 2020 forced performance venues, auction houses and event spaces to cancel events, depriving artists and venues of thousands, and in some cases, millions of dollars. When the inevitable
During Art Basel Miami Beach in December 2019, Italian artist and provocateur Maurizio Cattelan[1] duct-taped a banana onto a white wall. Within hours, his work, Comedian, sold for $120,000, went viral, and became that year’s perhaps most discussed artwork.
On February 4, 2022, the Treasury Department published its Study on the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art (the “Report”).[1] To the surprise of many and the relief of the U.S.
As previously reported on this blog, non-fungible tokens (or “NFTs”) recently emerged as one of the hottest new items on the art market—artists, auction houses, museums, sports organizations and others have jumped at the chance to create and sell
We recently reported on the Warhol Foundation’s petition to the United States Supreme Court to review the Second Circuit’s decision in Andy Warhol Found. for Visual Arts, Inc. v. Goldsmith, 11 F.4th 26 (2d Cir. 2021). On March 28, 2022, the
As many know by now, non-fungible tokens (“NFTs”) are unique units of data stored on a blockchain that have become an increasingly popular way to buy and sell artwork (as well as all kinds of other things). Although NFTs have
In a controversial decision in March 2021, the United States Court of Appeals for the Second Circuit held that a 1984 series of silkscreen paintings by the pop artist Andy Warhol depicting the musical legend Prince (the “Prince Series”)—based on
On June 8, 2021, the United States Court of Appeals for the Second Circuit ruled in Beierwaltes v. Federal Office of Culture of the Swiss Confederation that the temporary seizure in Geneva of antiquities belonging to Colorado-based art collectors conducted
For those who believe that one today is worth two tomorrows, prejudgment interest offers a significant judicial remedy. In an unprecedented holding on July 12, 2021, the Commercial Division of the New York State Supreme Court, County of New York,