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Art Pension Trust (APT): A Savvy Method for Ensuring the Artists’ Financial Futures

May 7, 2010

A recent article in The Art Newspaper discusses the Art Pension Trust (APT) as a nest egg for visual artists…if it works. It all depends on the future value of the works contributed to the Trust, which of course depends on the volatility of the art market. See article here.

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Let's talk about Estates of Art Collectors On May

Let's talk about Estates of Art Collectors

On May 11, 2023, Christie’s commenced New York's spring sale series with a $178 million sale of art from the estate of the late Condé Nast chairman S.I. Newhouse Jr. 7 out of 16 pieces in the cache are sold above $10m. Here is a partial rundown of the sale:

A 1947 Willem de Kooning, "Orestes," that Mr. Newhouse won for $13.2 m in 2002 resold for $31m.

Bacon's 1969 "Self Portrait", purchased by S.I. Newhouse for $8.9 million in 2006, sold for $35m.

Jasper Johns' 1971 "Decoy” underperformed. It was estimated to sell for at least $14m but only sold for $10.7 million.

The marketplace is undergoing a generational taste shift among younger buyers who want a broader canon of artists. The mixed result calls for different forcasts on whether estates of art collectors will still sell. Do you agree that some art is timeless and will be forever in demand or will they become less appealing?

Image credit: CHRISTIE’ IMAGES LIMITED 2023/© 2023 THE WILLEM DE KOONING FOUNDATION/ARTISTS RIGHTS SOCIETY (ARS), NEW YORK

Read the WSJ article via link in out bio!
#artcollectors #francisbacon #jasperjohns #willemdekooning #auctionhouse #christies

Calling all alumni! This summer, the Center for Ar

Calling all alumni! This summer, the Center for Art Law is excited to hold our 2023 Alumni Reunion -- and you're invited!

📅 Date: August 3, 2023
⏰ Time: 6:00PM
🏙️ Location: TBD (In NYC!)

No matter where life has taken you since your internship, now is the perfect occasion to celebrate achievements and forge new connections. Whether you joined as a virtual intern during the COVID-19 pandemic or spent your summer with colleagues in the office, now is the time to reconnect, reminisce, and reignite the spark of our shared passion for art law! 🎨 ⚖️

RSVP ASAP by emailing artlawteam@itsartlaw.org. Questions? Leave them below!

P.S. Have you joined our Alumni Linkedin page yet? Find it by searching "Center for Art Law Alumni Association"!

Is it true that an artist cannot be good at both w

Is it true that an artist cannot be good at both work and parenting? Judah provides an answer in the book by compiling interviews with artists. The book provides insight on how some artists have successfully been both a parent or caregiver and an artist, and the means in which they have done so. Providing informational tools on resources available for artists to play dual roles, Judah creates this artful “how-to” on not having to choose between the two.

Find link to get the book in our bio!

#BookRecs #ArtLaw #Art #Law #CenterForArtLaw #BookTok #ReadingIsFun #SummerReading

Calling all visual artists! Our next Artist Legacy

Calling all visual artists! Our next Artist Legacy and Estate Planning Clinic is on June 21st!

Join the Center for Art Law's Artist Legacy and Estate Planning Clinic for an evening of low-cost consultations with attorneys, tax experts, and other arts professionals with experience in estate and legacy planning.

After a Keynote Address on Legacy and Estate Planning by Kathryn Goldman, each participating artist will be paired with a Volunteer Professional for a confidential 20-min discussion.

Register via the link in our bio!

Greek Culture Minister Lina Mendoni announced on M

Greek Culture Minister Lina Mendoni announced on May 19 that Greece recovered 351 Neolithic-to-Byzantine objects from Robin Symes’ collection after a 16-year legal battle with the British antiquities dealer. This recovery includes a 2nd-Century bronze statue of Alexander the Great. Ms. Mendoni did not mention if there is a link between the repatriated objects and a 2016 discovery of archeological treasures stored by Symes at the Geneva freeport in Switzerland.

The latest repatriation of the British dealer’s collection is a hopeful sign that there might be some progress in the negotiation on the return of Parthenon marbles by the British Museum.

Read more via link in our bio.

Image credit: Photo by ANGELOS TZORTZINIS via Getty Images

#culturalheritage #italy #parthenonmarbles

Long-awaited decision in Andy Warhol Foundation v.

Long-awaited decision in Andy Warhol Foundation v. Goldsmith is out. Available here https://www.supremecourt.gov/opinions/22pdf/21-869_87ad.pdf

In the spirit of the International Museum Day, the

In the spirit of the International Museum Day, the Center brings the new book of Adam Kuper, a South African anthropologist, on the topic of displaying colonial acquisitions.

The book asks the question of how museums should display the objects in a way that facilitates knowledge of other cultures. Adam Kuper addresses issues of race, colonialism, difference and cultural appropriation, through an examination of the coexistence of human lives and the role of the museum in it.

Get the book via the link in our bio!

#BookRecs #ArtLaw #Art #Law #CenterForArtLaw #BookTok #ReadingIsFun #SummerReading

“Imitation is the sincerest form of flattery”

“Imitation is the sincerest form of flattery” ~ Oscar Wilde

Good artists… great artists… We might have different ideas about copying and stealing but even if imitation were a form of flattery, how do we differentiate between copyright infringement and fair use? What permissions or licenses are needed to reproduce an artist's image or artwork? Is a license always needed? And in the increasingly digital world, what does a DMCA takedown mean, historically and practically?

To get these questions and topics addressed and to learn about the rudiments of DMCA Takedown Notice, join Center for Center for Art Law and Artists Rights Society as we address copyright issues in the context of infringement and DMCA takedown notices. Our speakers, Irina Tarsis, Founder and Managing Director of Center for Art Law, Samantha Moore, Director of Legal Affairs, Artists Rights Society and moderator Atreya Mathur, Director of Legal Research, Center for Art Law will discuss the basics of copyright law, copyright infringement- using illustrations and examples of artist images to showcase infringing uses and explain the difference between infringement and fair use. The nuts and bolts of DMCA takedowns will be presented along with references to various softwares used to identify infringement.

Register for the event via the link in our bio! 🖼️

Happy Internatioal Museum Day! Per ICOM, this year

Happy Internatioal Museum Day! Per ICOM, this year's theme is "Museum, Sustainability, and Wellbeing."

The Center wants to invite you to think about the wellbeing of the museums by keeping up with a recent act issued in August 2022 that mendates New York State museum to label the provonence of Nazi looted art. Our Spring 2023 Graduate Intern Sophia Williams penned an comprehensive analysis on the challenges in defining what artworks it covers, what behaviors museums must adopt to identify artworks in compliance with the Statute, and whether it may unconstitutionally conflict with museums’ First Amendment rights.

Read her article today via the link in our bio!

#IMD2023 #Museums4Wellbeing #Museum #Art #CulturalHeritage #Law #ArtLaw #LootedArt #ArtLaw #CenterForArtLaw

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