Europe

What’s the Global Art Market Really Worth? Depends Who You Ask: How big is the art market? Is it getting bigger or smaller? This is the time of year the art world’s number-crunchers release reports that try to answer these tricky questions, and a whole lot more. According to the latest Tefaf art market report released by the European Fine Art Foundation in the Netherlands, the world’s auction and private sales in 2016 raised more than $45 billion, up 1.7 percent from the previous year. A new report commissioned by Art Basel and UBS estimated these same sales at $56.6 billion, down 11 percent from 2015.

23.03.2017, The New York Times: What’s the Global Art Market Really Worth? Depends Who You Ask

22.03.2017, Antiques Trade Gazette: Art Basel Art Market Report 2017: Auction market weakness boosted dealer sales

Christie’s cancels June contemporary art auctions: Christie’s is cancelling its June postwar and contemporary art auctions in London, the auction house confirmed on Friday. In a statement, it says this year is “particularly busy” for collectors, with Venice, later New York sales in May, Documenta 14 and Art Basel all putting a squeeze on the art world summer calendar–and consignments.

27.03.2017, The Art Newspaper: Christie’s cancels June contemporary art auctions

27.03.2017, Antiques Trade Gazette: Christie’s drops London summer Contemporary art auctions

What does the election mean for France’s art market?: The results of the impending French presidential election could radically change the country’s political landscape and alter the balance of power between London and continental European market places, casting a cloud of uncertainty over France’s resilient art trade.

22.03.2017, The Art Newspaper: What does the election mean for France’s art market?

Artist’s resale rights must be paid by sellers, French court rules: There has been a new twist to an eight-year old legal battle between Christie’s and France’s associations of antique dealers and galleries. A French court stated on 24 March that artist’s resale rights must be paid by sellers, with no exception. Saying that the ruling might hurt the contemporary art market, the auction house is now challenging the judgement in front of the high court.

31.03.2017, The Art Newspaper: Artist’s resale rights must be paid by sellers, French court rules

Rise in red-tape feared ahead of UK government launch of anti-money laundering watchdog: The art and antiques trade has raised fears that the launch of a new government money laundering watchdog will lead to further red tape for dealers and auctioneers in the UK.

21.03.2017, Antiques Trade Gazette: Rise in red-tape feared ahead of government launch of anti-money laundering watchdog

Stolen Van Goghs back on display after years in criminal underworld: They spent years under wraps and out of sight in a criminal’s safe – but two Van Gogh paintings are now back on show in the Dutch museum they were stolen from in 2002.

21.03.2017, BBC: Stolen Van Goghs back on display after years in criminal underworld

Centre Pompidou broke even on Koons retrospective, Paris court decision reveals: The Centre Pompidou’s Jeff Koons retrospective in 2014-15 was the most attended exhibition of a living artist in the museum’s history, bringing in 650,045 visitors, which could have resulted in a significant financial windfall for the museum—but this was not the case. “The exhibition did not generate profits for the centre,” according to the verdict delivered by the Paris High Court on 9 March, in a plagiarism suit led by the heirs of the photographer Jean-François Bauret. The French institution only made €60,059 through the sale of three publications tied to the exhibition, the court documents reveal.

17.03.2017, The Art Newspaper: Centre Pompidou broke even on Koons retrospective, Paris court decision reveals

United States

Edelman Arts Sues Over $26.8 Million Sale of Haring, Munch Works: Edelman Arts, the company of former Wall Street financier turned art dealer Asher Edelman, filed a lawsuit seeking to complete a $26.8 million sale of four works by Keith Haring and one by Edvard Munch.

23.03.2017, Bloomberg: Edelman Arts Sues Over $26.8 Million Sale of Haring, Munch Works

“Fearless Girl” Sculpture Near Wall Street Prompts Copyright Allegation That is More Bull than Bear: The sudden appearance near Wall Street on March 8, 2017 of The Fearless Girl, a bronze life-sized depiction of a roughly ten-year old girl staring defiantly at the famous Charging Bull sculpture has prompted headlines throughout the world.  Now, a defender of Charging Bull has leveled an accusation of copyright infringement against the sculptor of The Fearless Girl, an allegation that misapprehends how copyright law affects the interplay between works of visual art.

29.03.2017, Art Law Report: “Fearless Girl” Sculpture Near Wall Street Prompts Copyright Allegation That is More Bull than Bear

Expert Opinion or Elaborate Ruse? Scrutiny for Scholars’ Role in Art Sales: Over the course of a 30-year friendship, Emma C. Bunker, 87, and Douglas A. J. Latchford, 86, became authorities on Southeast Asian antiquities whose approval could ensure an object’s value and legitimacy. But in a criminal complaint filed by the Manhattan district attorney last December in New York, Mr. Latchford and Ms. Bunker are identified less respectfully — as Co-Conspirator No. 1 and Co-Conspirator No. 2.

30.03.2017, The New York Times: Expert Opinion or Elaborate Ruse? Scrutiny for Scholars’ Role in Art Sales

Iranian Gallery Drops Out of AIPAD Fair Due to Trump’s Travel Ban: Ag Galerie, the first ever Iranian dealer to participate in the Association of International Photography Art Dealers’ (AIPAD) Photography Show, has pulled out of the fair due to the travel ban signed by President Donald Trump to target citizens of six Muslim-majority countries.

28.03.2017, Artnet: Iranian Gallery Drops Out of AIPAD Fair Due to Trump’s Travel Ban

28.03.2017, The New York Times: Iranian Art Gallery Cancels Its Part in New York Show, Citing Trump’s Travel Ban

World

An appetite for Asia: Art market activity moved to Hong Kong for the 10th iteration of the contemporary and increasingly Modern art fair that since 2013 has been run by Art Basel. Those 10 years have seen a major shift in power towards Asian buyers, and many of the 242 dealers at this year’s fair demonstrated a deeper respect for this yet-nascent market by bringing higher-quality works to show and sell.

24.03.2017, The Financial Times: An appetite for Asia

27.03.2017, Artnet: Has Asian Art Been Sidelined at Art Basel Hong Kong?

Chinese authorities begin ivory trade shut down: China is shutting a third of its ivory factories and shops, as it begins to meet the requirements of a formal ban by the end of the year.

31.03.2017, Antiques Trade Gazette: Chinese authorities begin ivory trade shut down

‘War crimes’: UN strengthens resolve against destruction of cultural heritage: The deliberate destruction of cultural heritage sites may amount to war crimes, a new resolution adopted by the UN Security Council says. Officials have warned of “cultural cleansing” in the Middle East, Asia and Africa.

25.03.2017, Deutsche Welle: ‘War crimes’: UN strengthens resolve against destruction of cultural heritage

Cuba’s in the Air: The Legal Challenges to Loaning Art from Cuba due to Judgments under the State Sponsored Terrorism Exception: Despite improved relations between the two countries, there remain many unresolved issues that may affect Cuba’s willingness to export art to the U.S.

30.03.2017, Center for Art Law: Cuba’s in the Air: The Legal Challenges to Loaning Art from Cuba due to Judgments under the State Sponsored Terrorism Exception