Author Archive

“Judge Cohen rejected Steinhart’s claims, saying he was a ‘sophisticated art collector and financier’ who never claimed that the consignment agreement had been broken, and did not ‘do any diligence of his own.'”

A victory for Hirschl and Adler gallery in a lawsuit involving a "net to you" consignment.

Grossman LLP (which represented the gallery) has a post about it here, concluding: "The case stands as a reminder that, while the law protects against fraud, breach of contract, and other wrongs, it may not protect a party—especially a sophisticated and experienced one—from buyer’s or... | Read More

Three Years for Angela Gulbenkian

 Story here. Background here.

... | Read More

“San Francisco Unified School District broke the law when it voted to cover up a contentious mural at George Washington High School without first examining the environmental impacts, a judge ruled this week in a win for the high school alumni association suing over the issue.”

Story here. Background here.... | Read More

Interesting NFT Tax Issue

From a recent "Wealth Matters" column in the NYT:

"One issue that has not caught up with the technology is how NFTs will be taxed. Cryptocurrency is taxed at the capital gains rate, and many experts say they believe that NFTs will be considered collectibles, which are taxed at a 28 percent rate. But the tax issue gets more complicated because many NFTs are bought using cryptocurrency. So... | Read More

So This Is Chrismas

Eileen Kinsella in artnet news: Notorious Los Angeles Art Dealer Douglas Chrismas Has Been Charged With Embezzling $260,000 From His Former Gallery.

... | Read More

Artist Pension Trust Update

From Robin Pogrebin and Siddhartha Mitter in the New York Times:

"[D]ozens of the artists now say they have deep concerns about the company. It sold very little of their art, they say, made only two rounds of small payouts several years ago and sought to change the contract to make them responsible for storage costs. Artists say that after they objected, the company all but disappeared... | Read More

“What counts as ‘fair use’? Debate over Warhol’s appropriation of Prince photograph rumbles on”

 Martha Lufkin surveys the scene.

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“Man Is Accused of Attempting to Sell Fake Basquiats and Harings”

New York Times story here.

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“German socialite Angela Gulbenkian pleads guilty to theft in London court”

"The charges against her stemmed from the fraudulent sale of a £1.1m Yayoi Kusama pumpkin sculpture to a Hong Kong collector, while a similar claim against her over a Warhol portrait remains in German court."

Some background here.

... | Read More

“In custody is not a gang of thieves who planned a Hollywood-style heist, but a 49-year-old construction worker, with the Twitter name ArtFreak, who was arrested on Monday.”

NYT:  "Stolen Picasso and Mondrian Paintings Found Stashed in a Ravine in Greece." "The theft appears to have been years in the making as an obsession with art morphed into something criminal. The suspect, who was remanded to police custody after appearing before an investigating magistrate on Thursday, is reported to have told the police that he had 'always been interested in art.'"

... | Read More
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