26 May 2020

Art@Law | Constantine Cannon

Europe

Supreme Court the final option in Ivory Act case: Friends of Antique Cultural Treasures (FACT) Ltd, a company set up by dealers and collectors to fight the act’s near-total ban on trade in antique ivory, said it is determined to take the case to the final stage. It will need to raise further funds – as much as £100,000 – to move its case to the Supreme Court. 

25.05.2020, The Antiques Trade GazetteSupreme Court the final option in Ivory Act care  

Strong sales as France restarts live auctions: Parisian auction houses have reopened with restricted visitor numbers and heightened sanitary measures. Yet, despite these conditions, the response from clients has been generous if the results of Artcurial’s first post-lockdown sale are anything to go by. 

22.05.2020, The Art NewspaperStrong sales as France restarts live auctions  

Paris announces $16.5 million relief fund for culture: Christophe Girard, Paris’s deputy mayor for culture, has pledged a $16.5 million relief plan for the city’s cultural sector, reports Le Parisien. The bailout includes $12.5 million for the city’s public theaters, art and cultural centers, and concert halls, as well as $1.3 million for private orchestra and concert halls and live show venues. A $54,500 fund is allocated for playwrights and composers. The cinema sector is also receiving support, with a $1.5 million grant, including $327,000 for independent cinemas and $109,000 for the creation of short films. “It’s more than a boost,” said Girard. “It is a historic gesture at a time of unusual crisis for Paris to recall that it is the capital of cultural exception.” 

22.05.2020, ArtforumParis announces $16.5 million relief fund for culture  

UK appoints commissioner for cultural recovery and renewal: The United Kingdom has hired Neil Mendoza, the provost of Oriel College at Oxford University, as its new commissioner for cultural recovery and renewal. He will be responsible for advising the government’s Department for Digital, Culture, Media, and Sport (DCMS) on the steps that need to be taken to ensure the UK’s arts sector can recover from the pandemic. 

21.05.2020, ArtforumUK appoints commissioner for cultural recovery and renewal 

21.05.2020, The Art NewspaperUK government appoints commissioner to get culture sector ‘back up and running’ 

French auction houses reopen following Germany’s lead as lockdown eases across Europe: Auction house watchdog Conseil des Ventes Volontaires (CVV) wrote to firms on May 14 updating them on the latest edict from government. CVV chairman Henri Paul stated that Nicole Belloubet, Minister of Justice and Keeper of the Seals, on May 11, 2020 had authorised “the reopening of the auction rooms”. 

19.05.2020, The Antiques Trade GazetteFrench auction houses reopen following Germany’s lead as lockdown eases across Europe

United States

US arts and culture sector projected to lose $6.8 billion: A new report published by Southern Methodist University’s DataArts center and the data consulting firm TRG Arts estimates that the net effect of the Covid-19 pandemic on the United States’s nonprofit cultural sector will be a deficit of $6.8 billion, or the equivalent of 26 percent of the average operating expenses of the arts organization over the course of one year. The study draws from the activity of roughly 35,000 nonprofits with annual budgets surpassing $50,000 and incorporates information about closures, layoffs, and impact reports. The estimates also hinge upon organizations reopening by October 1, 2020. 

19.05.2020, ArtforumUS arts and culture sector projected to lose $6.8 billion 

Art dealers across the US struggling to survive as new report projects a 73% loss in revenue: As numerous organisations attempt to measure the still untold and unfolding financial fallout of coronavirus (Covid-19) within the art world, the Art Dealers Association of America (ADAA) has released on May 19 its latest findings, revealing that art galleries across the US project a 73% loss in revenue for the second fiscal quarter. 

19.05.2020, The Art NewspaperArt dealers across the US struggling to survive as new report projects a 73% loss in revenue 

World

The art world gets back to business: How quickly things change. It was little than two months ago, in the western world, that the doors of museums and galleries slammed shut with shocking abruptness. This week, as if another switch had been thrown, in many countries the Open for Business signs are flickering into life. 

21.05.2020, The Financial TimesThe art world gets back to business 

Art market confidence is lower than the 2008 crisis, reports show: Analysts are beginning to assess the impact of Covid-19 on the $64.1bn international art market. A confidence report by ArtTactic gives an indicator of 6.4 (out of 100), the lowest reading since the six-monthly survey began in 2005 and a drop of 85 per cent since September. 

21.05.2020, The Financial TimesArt market confidence is lower than the 2008 crisis, reports show 

Covid-19 impact reports say 13% of museums may never reopen: New studies conducted by UNESCO and the International Council of Museums (ICOM) have found that nearly 13 percent of the more than 85,000 museums across the globe that have shut down because of the coronavirus pandemic may never reopen. Aimed at accessing the impact of Covid-19 on cultural institutions worldwide, the reports were released on May 18, International Museum Day, and are based on information collected by UNESCO’s 193 member states and 11 associate members. 

21.05.2020, ArtforumCovid-19 impact reports say 13% of museums may never reopen 

Sotheby’s contemporary art day sale breaks previous online auction record: The inaugural online Sotheby’s contemporary art day auction, which concluded on Thursday, May 14, netted $13.7 million—the highest total ever for an online sale at the auction house. The sum is more than double the previous record; it also helped Sotheby’s surpass its $100 million mark in global online sales for 2020, which is nearly five times the total online sales made during the same period last year. 

15.05.2020, ArtforumSotheby’s contemporary art day sale breaks previous online auction record 

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