Posted on: October 30, 2023 by Laura Villarraga Albino
The recent report from DACS reveals that since 2006, almost £120 million in Artist’s Resale Right (ARR) royalties have been distributed to over 6,023 artists and heirs in the UK. ARR plays a significant role in the UK’s art ecosystem, contributing directly to artists’ practice and their legacies with minimal impact on art market participants. […]
Posted on: December 8, 2022 by Julia Rodrigues Casella Hommes
The latest guidance on the anti-money laundering (AML) regulations as they pertain to the UK art market has finally brought about some much-needed clarification on some aspects of the regulations that had remained up until now somewhat difficult to comprehend and, more importantly, apply to day to day business. There are many aspects of the […]
Posted on: December 9, 2021 by Alexander Herman
Collector Michael Steinhardt has been in the news this week, and not for the right reasons. On Monday, an agreement was announced whereby the New York DA’s Office would not prosecute Steinhardt for acquiring looted antiquities and, in exchange, Steinhardt would surrender 180 such artefacts to the DA, and these will soon (one hopes) be […]
Posted on: March 9, 2021 by Emily Gould
Another week, another acronym for the art world. In the past year or so, whilst many AMPs (art market professionals) have grappled with getting to KYC (know your customer) in compliance with new AML (anti money-laundering) rules, they have also been faced with moving from the bustling world of art fairs and high street galleries […]
Posted on: December 14, 2020 by Emily Gould
An intriguing and long-running saga involving an alleged Old Master painting, a London art dealer, a US investor and an international auction house appears to have reached its conclusion. For those following the case of Sotheby’s v Weiss Limited and Fairlight Art Ventures LLP, with all its twists and turns, the latest (and possibly the […]
Posted on: October 19, 2020 by Emily Gould
The opening of a ‘virtual’ Frieze week in London earlier this month was a reminder of both the significant challenges Covid-19 has posed to the art market, and the innovative and creative responses which have emerged. In contrast to the usual spectacle of bustling crowds cramming into marquees in London’s Regent’s Park, Frieze London 2020 […]
Posted on: May 1, 2020 by Charlotte Dunn
There is no doubt that the current times have caused extraordinary changes to daily life. There have been major impacts on every aspect of society, including how, when and where crime will occur. Thankfully, in general, crime has fallen since the introduction of lockdown measures in the UK. However, as noted in this article by […]
Posted on: March 10, 2020 by Julia Rodrigues Casella Hommes
The highly anticipated guidance on implementing and complying with the new anti-money laundering rules for the art trade was finally released a few weeks ago. The lengthy document, which totals over 100 pages, was in fact prepared by the British Art Market Federation (BAMF), and has received formal approval by the HMRC. As such, it […]
Posted on: January 10, 2020 by Julia Rodrigues Casella Hommes
Important changes are imminent for the art market as the 5th EU Anti-Money Laundering Directive enters into force in the UK this Friday, the 10th of January 2020. The directive has been hurriedly transposed into UK law through the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which were laid before Parliament on the 20th […]
Posted on: July 26, 2019 by Julia Rodrigues Casella Hommes
Earlier this month, controversy surrounded one particular lot in the ‘The Exceptional Sale’ at Christie’s in London. The object of the controversy was ‘An Egyptian Brown Quartzite Head of the God Amen with the features of the Pharaoh Tutankhamen’, dated to the Reign of Tutankhamen, c. 1333-1323 BC, New Kingdom, 18th Dynasty. The lot (no. 110) […]