15 October 2018

Art@Law | Constantine Cannon

Europe

Monuments Men unit to stop looting in Syria: A Gulf War tank commander with a background in art dealing has been picked by the British army to set up a “Monuments Men” unit to halt the looting of priceless artefacts in war zones such as Syria. 

12.10.2018, The TimesMonuments Men unit to stop looting in Syria 

11.10.2018, The TelegraphBritish Army starts recruiting for revived Monuments Men unit to protect art and archaeology in war 

Bigger than Banksy: Jenny Saville sets auction record: “Banksy overshadowed the greatest achievement of the week,” says Morgan Long, senior director at advisory firm The Fine Art Group. Indeed, the spectacle of a self-shredding canvas, orchestrated by a male artist, did distract somewhat from the history made by the British painter Jenny Saville, who in Sotheby’s sale the same evening became the priciest living female artist to sell at auction. 

12.10.2018, The Financial TimesBigger than Banksy: Jenny Saville sets auction record 

12.10.2018, The New York TimesA Landmark Achievement for a Painting by a Woman, Upstaged by a Man 

Banksy, trust and the art market — the inside story: Banksy loves frames. In the British artist’s Walled Off hotel, which stands beneath the West Bank barrier in Bethlehem, every wall is riotously decorated with his work in picture frames: giant gold frames, tiny ornate frames, sad little junk-shop frames, stalwart prim great-aunt-Nora frames. Some hold stencilled lettering reading “DOG” or “RURAL LANDSCAPE”; another houses a burnt-out image; one wrecked frame displays a half-destroyed portrait. Each is a momentary visual joke, a snap comment on our ways of seeing and expectations of art, a small exploding booby-trap for the imagination. 

12.10.2018, The Financial TimesBanksy, trust and the art market — the inside story 

Sale of shredded $1m painting by Banksy completed to mystery buyer: The £1m sale of the Banksy painting that was shredded by its own frame has been completed, after the successful bidder, a female European collector, pressed ahead with the purchase. 

11.10.2018, The Financial TimesSale of shredded $1m painting by Banksy completed to mystery buyer 

11.10.2018, The Wall Street JournalBanksy Buyer Plans to Keep Shredded Painting 

11.10.2018, The Art NewspaperBanksy renames shredded painting Love Is In the Bin as work sells to winning bidder after a week of negotiation 

Dutch Museums Discover Hundreds of Artworks Stolen by the Nazis—and They’re Already Starting to Return Them: Forty-two Dutch institutions have found 170 works of art that they suspect may have been stolen or confiscated under duress during the Nazi era. They include 83 paintings, one of which is in the royal collection, 26 drawings, and 13 Jewish ceremonial objects thought to have been lost between 1933 and 1945. The potentially looted art ranges from a Hans Memling in the Museum Boijmans Van Beuningen in Rotterdam to a watercolor by Wassily Kandinsky in the Stedelijk Museum, Amsterdam. 

11.10.2018, ArtnetDutch Museums Discover Hundreds of Artworks Stolen by the Nazis—and They’re Already Starting to Return Them 

10.10.2018, The GuardianDutch museums discover 170 artworks stolen by Nazis 

Will the Louvre Lose Corporate Sponsorship Worth Millions? France’s Fight Over Tax Reform Could Have Big Ripple Effects for Museums: The millions of euros of corporate sponsorship that the Louvre and France’s other leading museums receive each year may be in jeopardy. Politicians are challenging the generous tax breaks, which have led donations to quadruple over the past 15 years, because they fear the incentive to give comes at too high a cost to the taxpayer. The potential ramifications are huge: Sponsors of arts, education, and other causes are now able to deduct €930 million, or more than $1 billion, a year from their tax bills. 

10.10.2018, ArtnetWill the Louvre Lose Corporate Sponsorship Worth Millions? France’s Fight Over Tax Reform Could Have Big Ripple Effects for Museums 

Price Check! Here’s What Sold—and for How Much—at Frieze London and Frieze Masters 2018: While this year’s London Frieze Week will likely be remembered for Banksy‘s viral auction-room stunt, there was lots of action taking place across town under the twin white tents in Regent’s Park, too. Frieze London and Masters—the former dedicated largely to contemporary work and the latter devoted to art from before 2000—saw a bevy of high-profile visitors, from Rose McGowan and Keira Knightley to collector Bob Rennie and curator Beatrix Ruf. 

09.10.2018, ArtnetPrice Check! Here’s What Sold—and for How Much—at Frieze London and Frieze Masters 2018 

‘African Art Is Here to Stay’: Collectors Were in a Buying Mood at the London Edition of the 1-54 Fair: Art collectors love to be ahead of the curve, especially when a market is “emerging.” African contemporary art is in demand but prices are still within the reach of even new collectors. In London, the sixth edition of the pioneering African art fair 1-54 attracted new and established collectors as well as curators from prestigious institutions such as LACMA, the Guggenheim, and Fondation Louis Vuitton. Celebrities drawn to the event included the actor Idris Elba. 

08.10.2018, Artnet‘African Art Is Here to Stay’: Collectors Were in a Buying Mood at the London Edition of the 1-54 Fa

United States

Major Ebsworth Collection sale at Christie’s marks the first blockchain-recorded auction: Christie’s announced today (11 October) that its high-profile sale of the Barney A. Ebsworth Collection in New York this November will be the first auction to be recorded by blockchain technology. The pilot is in collaboration with Artory, a blockchain title-registry startup specific to the art market, which will produce a digitally encrypted certification for each work in the 90-lot sale—estimated at a combined $300m—providing buyers with a record of relevant information about the artwork. 

11.10.2018, The Art NewspaperMajor Ebsworth Collection sale at Christie’s marks the first blockchain-recorded auction 

Richard Prince defends reuse of others’ photographs: In two cases testing copyright law in social media, the artist Richard Prince is asking a federal court in Manhattan to rule that two of his Instagram-based works constitute fair use of photographs taken by others. 

10.10.2018, The Art NewspaperRichard Prince defends reuse of others’ photographs 

Peggy Cooper Cafritz Leaves Collection to Two Arts Institutions: By the time Peggy Cooper Cafritz died earlier this year, she had worked her way from a childhood in the Jim Crow South to become a Washington-based civil rights activist, educator and esteemed art collector whose private compendium of primarily African-American art was one of the largest in the country. Now, the majority of that collection is being given to a pair of organizations that share some of her passions. 

10.10.2018, The New York TimesPeggy Cooper Cafritz Leaves Collection to Two Arts Institutions 

09.10.2018, ArtnetCollector Peggy Cooper Cafritz Bequeaths More Than 600 Works to the Studio Museum and Duke Ellington School of the Arts 

World

The Da Vinci mystery: why is his $450m masterpiece really being kept under wraps?: In May 2008, some of the world’s greatest Leonardo da Vinci experts stood around an easel in a skylit studio high above Trafalgar Square. The object they had been invited to scrutinise, in the conservation department of the National Gallery, was a painting on a panel of walnut wood. It showed a long-haired, bearded man gazing straight ahead with one hand raised in blessing, the other holding a transparent sphere. 

14.10.2018, The GuardianThe Da Vinci mystery: why is his $450m masterpiece really being kept under wraps? 

Is Hong Kong ‘the problem solver for the global art industry’? Fine Art Asia’s director thinks so: Unfazed by recent twin winds of Typhoon Mangkhut and global trade wars, Hong Kong and its art and antiques market continues to chug along healthily, according to the organisers and dealers at the latest edition of Fine Art Asia (FAA, 29 September-2 October). 

12.10.2018, The Art NewspaperIs Hong Kong ‘the problem solver for the global art industry’? Fine Art Asia’s director thinks so 

3 Trends Art Dealers and Collectors Need to Understand to Break Into the Asian Art Market: For the third consecutive year, the art market think tank Talking Galleries hosted a program of discussions in Seoul as part of the 17th Korea International Art Fair this past October 5 and 6. Focusing on collecting, media, art market reports, architecture, design, and other topics, the conference featured four panel discussions with a range of speakers from Asia and around the world, each addressing the challenges facing the global art market, with a particular focus on Asia. 

12.10.2018, Artnet3 Trends Art Dealers and Collectors Need to Understand to Break Into the Asian Art Market 

President Rouhani personally takes looted ancient relief back from New York to Tehran: An ancient limestone bas-relief depicting a Persian soldier, which was seized from the Tefaf New York fair last autumn, has been personally transported to the National Museum in Tehran by the Iranian president Hassan Rouhani according to European press reports. 

11.10.2018, The Art NewspaperPresident Rouhani personally takes looted ancient relief back from New York to Tehran 

Abraaj Group liquidators to sell 200 works from art collection at Bonhams: The Abraaj Group’s liquidators are to sell off around 200 works from the Dubai-based private equity firm’s collection of Arab, Iranian and South Asian art across three auctions at Bonhams on 23 and 24 October in London. 

10.10.2018, The Art NewspaperAbraaj Group liquidators to sell 200 works from art collection at Bonhams

NOTE: Please note that most excerpts come from the original publication and any credit must go to the author of the publication, not to Constantine Cannon LLP.  Any views or opinions expressed in the excerpts and/or articles belong solely to the author of the publication.  Constantine Cannon LLP does not approve or endorse any view or opinion contained therein.  Due to some copyright restrictions, please doot redistribute this email without our consent.  Should you like to include someone in the mailing list, please let us know.  We will be happy to do it! If you do not wish to receive the Art Law News Update, please unsubscribe through the link below.