24 September 2021

Art@Law | Constantine Cannon

Europe

Artistate launches to help artists safeguard their legacy: A new venture launching on 7 October aims to bridge the gap between ivory tower and income for artists, helping them stabilise their affairs and protect their legacy.

22.09.2021, The Art Newspaper: Artistate launches to help artists safeguard their legacy

Try before you buy? Art rental scheme could bring steady income for emerging artists: As the art world emerges from the pandemic in its newly hybrid state, numerous digital platforms are springing up, some of which are asking fundamental questions about the industry’s economic equality, accessibility, sustainability and environmental impact.

22.09.2021, The Art Newspaper: Try before you buy? Art rental scheme could bring steady income for emerging artists

NFTs make their debut at Art Basel, where collectors are curious—and a bit confused—about the new art medium: Galerie Nagel Draxler reported strong sales of its NFT offerings, finding workarounds for collectors without crypto wallets.

21.09.2021, Artnet: NFTs make their debut at Art Basel, where collectors are curious—and a bit confused—about the new art medium

Picasso’s daughter exchanges nine artworks with France to settle tax bill: France is set to receive nine artworks by Pablo Picasso as part of an arrangement between his daughter, Maya Ruiz-Picasso, and the French government. The group of works—six paintings, two sculptures, and a sketchbook—were donated by Ruiz-Picasso to help settle an inheritance tax bill, French finance minister Bruno Le Maire said during a press conference Monday at the Picasso Museum in Paris.

21.09.2021, The Art Newspaper: Picasso’s daughter exchanges nine artworks with France to settle tax bill

Newly discovered van Gogh drawing to go on display in Amsterdam: A drawing that has been newly attributed to Vincent van Gogh is set to go on display publicly for the first time ever. The van Gogh Museum in Amsterdam will put the work—a rarity, given that new van Gogh pieces infrequently come to light.

16.09.2021, Art News: Newly discovered van Gogh drawing to go on display in Amsterdam

Works by Koons, Murakami from Karl Lagerfeld estate to sell at Sotheby’s: A portion of the estate of German designer Karl Lagerfeld, who died in February 2019, is scheduled to come to auction this winter. Sotheby’s, which first announced that it would sell the estate of the longtime creative head of Chanel in March, has revealed plans to auction more than 1,000 design objects, artworks, and personal effects. These items will be auctioned across eight designated sales that will take place at Sotheby’s sale rooms in Monaco, Paris, and Cologne beginning this winter and continuing into next year.

13.09.2021, Art News: Works by Koons, Murakami from Karl Lagerfeld estate to sell at Sotheby’s

United States

Met to sell $1 m. in multiples to raise funds amid budget shortfall: The Metropolitan Museum of Art in New York is selling more than 200 prints and photographs from its collection in order to raise funds amid a budget shortfall caused by the pandemic.

20.09.2021, Art News: Met to sell $1 m. in multiples to raise funds amid budget shortfall

World

Mexican government attempts to halt German auction of Pre-Columbian Artifacts: The Mexican government is making efforts to halt an auction of pre-Columbian artifacts in Germany this week. In a letter sent to the Munich-based dealer Gerhard Hirsch Nachfolger, the Mexican Secretary of Culture Alejandra Fraustro said the archaeological objects had been deemed “national patrimony” belonging to the Mexican people by the Instituto Nacional de Arqueologia e Historia.

20.09.2021, Art News: Mexican government attempts to halt German auction of Pre-Columbian Artifacts

18.09.2021, The Art Newspaper: Mexico attempts to halt German auction of Pre-Colombian artefacts 

NFT sales platform OpenSea rocked by insider trading scandal: NFT sales platform OpenSea has revealed that a high-ranking executive within the company profited from trading its crypto digital assets using insider information, as first reported by TechCrunch. The employee, said to be the platform’s head of product, used secret crypto wallets to purchase NFTs before they were made available to buyers online, sold them once they were unveiled on the OpenSea website, and directed the profits to a personal account.

16.09.2021, Artforum: NFT sales platform OpenSea rocked by insider trading scandal

Algorithm-generated NFTs are quickly rising in value. Can Art Blocks up the quality?: “The most popular series of NFT collectibles are algorithmically generated,” Dean Kissick, the New York editor of Spike Art Magazine, wrote in a column back in March, when the NFT craze was just exploding. He was describing the algorithm’s claustrophobic effect on culture, and he isn’t alone in his prognostic. There are many critics who claim that algorithms do two things: produce bad art and cheapen culture as a whole.

13.09.2021, Art News: Algorithm-generated NFTs are quickly rising in value. Can Art Blocks up the quality?

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