ABC’s of Art Law: B is for Blockchain

New technologies and artificial intelligence applications are dramatically changing the landscape in many different fields and markets. Typically, transactions relating to the art market and creative industries are inherently characterized by a generalized lack of transparency and trust, as well as information asymmetry. Also, the art industry has usually been reluctant to consistently rely on traditional legal services. In this contest Blockchain can represent an important player in the development of the art market reducing the risks related to transactions– blockchain might facilitate provenance tracking and traceability, and improve the procedures required for due diligence and the authentication of the work of art.

Join the Center for Art Law in a conversation with Elizabeth von Habsburg, Nanne Dekking, Rena Neville & Irina Tarsis, where we discussed the intersection and intricacies of blockchain technology in the art market and due diligence through blockchain in anti-money laundering efforts. Our panelists dove into the basics of blockchain, the benefits of conducting due diligence on information saved on the blockchain, and legal issues to keep in mind when using such technology.

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About the Speakers:

Elizabeth von Habsburg, Managing Director, Winston Art Group

Elizabeth von Habsburg, Elizabeth founded and leads Winston Art Group the largest independent art advisory and appraisal firm in the U.S. She is qualified as an expert witness in Fine Art and Decorative Art and lectures worldwide on all aspects of art. Elizabeth is certified by the Appraisers Association of America in Modern and Impressionist Art and European Furniture and Works of Art.

Before Winston Art Group, Elizabeth served as President of U.S. operations of an international appraisal and advisory firm for 18 years and as Vice President of Habsburg Auctioneers. Elizabeth began her career at Christie’s as Assistant Vice President in charge of appraisals. She is a Fellow of the Pierpont Morgan Library and the RICS and is a member of the Women Presidents Organization and ArtTable. She has testified as an expert witness in four jurisdictions and lectured worldwide. In 2015, Elizabeth was named one of the 50 Most Influential Women in Private Wealth, by Private Asset Management.

Nanne Dekking, Founder and CEO, Artory

Nanne Dekking, The art historian, Nanne Dekking, is the founder and CEO of Artory Inc., New York, and Artory GmbH, Berlin with 25+ years of global expertise and influence in the art market. Artory is a world leader in physical artwork tokenization and the blockchain-secured registration of verified provenance information about artworks and collectibles. In his former position at Sotheby’s New York, Nanne was Vice Chairman and the Worldwide Head of Private Sales. His close relationships with collectors and museums in North America, Asia, and Europe were integral to the continued growth of private sales at Sotheby’s. Prior to joining Sotheby’s, Nanne was Vice President of Wildenstein & Co. Nanne advised individuals, museums, and foundations on the formation and development of their collections.

From 1996-2001, Nanne was the founder and principal of Nanne Dekking Fine Arts, an art consultancy firm and gallery in New York. He was the Chairman of the Board of Trustees of The European Fine Art Fair (TEFAF) through June 2020 and is a current advisory board member of the Responsible Art Market Initiative. Nanne regularly gives his thoughts on the art market, blockchain, and tokenization for publications such as Bloomberg and The Financial Times.

Rena Neville, Corinth Consulting Ltd, AML specialist (Bar Admission: New York)

Rena Neville is a New York-qualified lawyer with 30+ years of art market experience. Heading the FCS Compliance Art Division, Rena has a unique combination of the international art world, legal and business experience built on a 30-year career at Sotheby’s. Rena was Sotheby’s first Global Compliance Director, as well as serving other roles there such as European General Counsel and Global Head of Litigation. Prior to Sotheby’s, she was an associate at the New York law firm Sullivan & Cromwell. For the last two years, she has been devoted to providing AML consulting services to the international art market. She is a frequent writer and speaker on money laundering regulations in the art market. For example, recently, she wrote a series of posts for the blog Constantine Canon art@law, and she participated in a recent IBA Art Law Committee Discussion Art in the Time of War: The Sanctions Landscape. She is currently living in London, however, she travels regularly between NY and London.

Irina Tarsis, Esq., Founder and Managing Director of the Center for Art Law (Bar Admission: New York)

Irina Tarsis, Esq., Founder and Managing Director of the Center for Art Law, has served on the faculty of the Sotheby’s Institute of Art, Fashion Institute of Technology, Teachers College/Columbia University, Benjamin N. Cardozo School of Law and the European Shoah Legacy Institute/Provenance Research Training Workshops in Lithuania, Greece, and Italy. Her publications include a chapter in “The Art Law Review” (Jan. 2021) and articles in numerous publications, including the IFAR Journal, Cultural Heritage & Arts Review, Library and The Cultural Record, the ArtWatch UK Journal, and Art Antiquity and Law Journal.

A recording of this event is available HERE: