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Pure Love of Art versus Mere Investment in London March 26-27, 2015

Posted by Nicholas O'Donnell on January 23, 2015 at 5:07 AM

The Art, Cultural Institutions and Heritage Committee of the International Bar Association (of which I am a member) will be sponsoring an event March 26-27, 2015 at Sotheby’s in London. The IBA Individual Tax and Private Client Committee is also a co-sponsor, in connection with the IBA European Regional Forum. Sotheby’s is located at 34-35 New Bond Street in London.

The program is now available for registration here. The schedule and speakers are below, but this is clearly an event not to be missed. Regrettably it overlaps with the annual Legal Issues in Museum Administration Conference in Washington, DC (more on that soon), so if anyone has figured out how to be in two places at the same time, suggestions are welcome.

THURSDAY MARCH 26, 2015

Keynote address

Collecting, investing or speculating?

Adrian George, Deputy Director, UK Government Art Collection London

Keynote address

Old and new players of today’s art markets

Mark Cornell, Managing Partner Europe, Sotheby’s, London

Art market players and their interests

This session will focus on the various players in the art market, their respective interests and how they shape today’s art market.

Moderator

Karen Sanig, Head of Art Law, Mishcon de Reya, London

Panelists

George Bailey, Chairman, Dreweatts & Bloomsbury Auctions, London

Fabrizio Moretti, TEFAF Maastricht, Maastricht

Helly Nahmad, Owner, Helly Nahmed Gallery, London

Andrew Renton, Professor of Curating, Goldsmiths London University and Director, Marlborough Contemporary, London

Art as an alternative investment class for institutional investors – art funds and other forms of art investment and certain related legal issues

This session will focus on duties of care imposed on institutional investors in art as an alternative investment class, and regulatory compliance. It will also address risks related to art investments, opportunities of investment through art funds, financing art creation, providing guarantees for auction sales, lending against art, other art investment formats, and relating legal issues.

Introduction

Philip Hoffman, Chief Executive, The Fine Art Fund Group, London

Moderator

Massimo Sterpi, Studio Legale Jacobacci & Associati, Rome; ICOM Liaison Officer, IBA Art, Cultural Institutions and Heritage Law Committee

Panelists

Stephen D Brodie, Herrick, New York

Luke Dugdale, Partner, Cadell & Co, London

Philip Hoffman, Chief Executive, The Fine Art Fund Group, London

Daniel Tunkel, Howard Kennedy, London

Diana Wierbicki, Head of Art Law, Withers, New York

Some selected legal issues when buying and holding art; ancillary cost of collecting

This session will focus on the sometimes underestimated ancillary costs and risks of collecting art. These include provenance, restitution risks, art theft, insurance, transport and restoration. Attempts to regulate the art market, sometimes described as the largest legal unregulated market, will also be addressed.

Keynote Speaker

Viola Reikhel-Bolot, Co-Founder, 1858 Ltd Art Advisory, London

Moderator

Adrian Parkhouse, Farrer & Co, London

Panelists

Dick Ellis, Ex Head of Art Squad, Scotland Yard, London

Melanie Gerlis, Art Market Editor, The Art Newspaper, London

Viola Reikhel-Bolot, Co-Founder, 1858 Ltd Art Advisory, London

Lucian Simmons, Senior Vice-President, Provenance and Restitution, Sotheby’s, London

Steven Thomas, Adjunct Professor, UCLA School of Law, Los Angeles

The public collections: their changing role in a changing market

This session will focus on the changing role of public collections in times of budget constraints of public institutions; the blurring of public and private collections; interest of art market players in public collections; temporary and permanent loans; deaccessioning of public collections and evident public interest in the context of bankrupt public entities.

Keynote speaker

Jasper Sharp, Adjunct Curator, Kunsthistorisches Museum, Vienna

Moderator

Jasper Sharp, Adjunct Curator, Kunsthistorisches Museum, Vienna

Panelists

Johann Kräftner, Director, LIECHTENSTEIN.The Princely Collections, Vaduz/Vienna

Rina Pantalony, Director of Copyright Advisory Office, Columbia University, New York

Alfredo Perez Weil, Gotshal & Manges, Houston Francesca von Habsburg Thyssen-Bornemisza Art Contemporary, Vienna (invited)

Plenary session and conclusion of the day

Conference dinner

FRIDAY MARCH 27, 2015

Advisors and their role in the art market

This section will focus on art, legal, tax and other advisors around the art markets and how their influence shapes art and art markets; increased transparency of markets, public databases and their impact on the art markets shall be reviewed.

Keynote speaker

Mary Romano, Bloomberg, New York (invited)

Moderator

Mark Stephens, CBE Howard Kennedy, London; Chair, IBA Art, Cultural Institutions and Heritage Law Committee

Panelists

David Arendt, Managing Director, Le Freeport, Luxembourg

Jean-Francois, Canat UGGC Avocats, Paris

Sherri North Cohen, Chief Underwriting Counsel, ARIS Title

Insurance Corporation, New York

Mary Romano

Elizabeth von Habsburg, Winston Art Group, New York

How and where to structure an art collection?

How best to pass a collection down through the generations? This session will focus on the best entities and jurisdictions in which to hold an art collection for successive generations. This will include a review of the key taxes, including capital gains and inheritance tax and the opportunities to be exempt from tax or to pay tax in kind.

Keynote speaker

Guy Simonius, Managing Director Wealth and Tax Planning Advisory, International Julius Baer, Zurich

Moderator

Daniel Simon, Collyer Bristow, London; Vice-Chair, IBA Individual Tax and Private Client Committee

Panelists

Sandrine Giroud, Lalive, Geneva; Publications Officer, IBA Litigation Committee

Wendy Philips, Senior Director, Head of Tax and Heritage, Sotheby’s, London

Randall Willette, Founder and Managing Director, Fine Art Wealth Management, London

Summary and conclusion by Conference Co-Chairs

Raul-Angelo Papotti

Peter Polak

Topics: Karen Sanig, Daniel Simon Collyer Bristow, Helly Nahmed Gallery, The Princely Collections, Lucian Simmons Steven Thomas, Art Finance, Mary Romano, Rina Pantalony, Philip Hoffman, International Julius Baer, Luke Dugdale, Helly Nahmad, UGGC Avocats, Studio Legale Jacobacci & Associati, Mark Cornell, UK Government Art Collection, ICOM, Daniel Tunkel Howard Kennedy, Peter Polak, David Arendt, Adrian Parkhouse, Diana Wierbicki, Paris, Guy Simonius, Bloomberg, Johann Kräftner, Art Cultural Institutions and Heritage Committee o, Columbia University, Geneva; Wendy Philips, Herrick, ARIS Title, Melanie Gerlis The Art Newspaper, Jasper Sharp, Sandrine Giroud, Cadell & Co, Scotland Yard, Lalive, Jean-Francois Canat, Houston Francesca von Habsburg, 1858 Ltd Art Advisory, Viola Reikhel-Bolot, UCLA School of Law, Thyssen-Bornemisza Art Contemporary, Stephen D Brodie, Fine Art Wealth Management, The Fine Art Fund Group, Marlborough Contemporary, Los Angeles, Randall Willette, Events, Massimo Sterpi, Luxembourg, Sherri North Cohen, Dreweatts & Bloomsbury Auctions, Le Freeport, Kunsthistorisches Museum, LIECHTENSTEIN, Adrian George, Fabrizio Moretti, Alfredo Perez, Mishcon de Reya¸ George Bailey, TEFAF Maastricht, Mark Stephens, Dick Ellis, IBA Individual Tax and Private Client Committee, Goldsmiths London University, Andrew Renton, Withers, Sotheby's, Legal Issues in Museum Administration, Vaduz, Zürich, IBA, Vienna, Pure Love of Art versus Mere Investment, New York

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About the Blog


The Art Law Report provides timely updates and commentary on legal issues in the museum and visual arts communities. It is authored by Nicholas M. O'Donnell, partner in our Art & Museum Law Practice.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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