Contents
CHAPTER 1 THE ARTIST AND THE ARTWORK
We examine the rights of the creator of art, the artist. These include copyright, moral rights, the artist’s resale right. The chapter details the protection against unauthorised reproduction afforded by copyright, explains how the artist can police the use of the artwork through moral rights. The chapter describes how copyright royalties are collected, how artist’s can recover royalties upon the resale of their artwork and how artists can enforce their intellectual property rights. Finally the chapter addresses some of the rights and liabilities of graffiti artists
CHAPTER 2 AUCTION SALES: INTRODUCTION
An overview of the history of auctions, the psychology which drives auctions and a chronological map and explanation of the auction process from the decision by the seller to sell through to the collection of the artwork by the successful buyer
CHAPTER 3 AUCTIONS: THE AUCTION HOUSE
An examination of the legal relationships between the auction house and the seller, and the auction house and the buyer. This chapter looks at the rights and duties of each party as implied by legislation, common law and equity and as imposed by contract. In particular the auctioneer’s role as agent is explained along with the fiduciary duties to the principal which result from that role. The auctioneer’s limited duties to the buyer under the contract of sale and more generally are also reviewed.
CHAPTER 4 AUCTIONS: FINANCIAL ARRANGEMENTS
This chapter provides an explanation of the structure and legal considerations applicable to the financial arrangements relating to the sale of art. It considers the lending of money on security of artworks, minimum price guarantees and risk sharing arrangements
CHAPTER 5 AUCTIONS: OWNERSHIP AND AUTHENTICITY
Here I consider the question of ownership and authenticity, which are the two most frequent sources of disputes relating to the sale, purchase and ownership of art. The section on title and ownership deals with the legal rights the dispossessed owner of an artwork may against subsequent owners or possessors of the artwork. The second part of the chapter considers the auction house’s duties in relation to the correct identification of the authorship of an artwork and the legal consequences of an artwork being found to be a forgery or to have been misattributed.
CHAPTER 6 AUCTIONS: POLICING THE SALEROOM
This chapter covers the law and practical measures which are intended to protect the integrity of the auction process and ensure that the consumer is not misled or taken advantage of. It looks at the statutory prohibition in relation to rigged auctions involving bidders and auctioneers acting in concert. It also considers the law relating to bidders agreeing amongst themselves to refrain from bidding on certain lots. Finally it covers the recent judgement of the Advertising Standards Authority relating to pricing information in auction catalogues.
CHAPTER 7 AUCTIONS: ONLINE AUCTIONS
This chapter describes the phenomenon of auctions which take place via the internet, ranging from ‘virtual’ auctions which take place entirely online to the ability of bidders to participate in physical auctions via the internet.
CHAPTER 8 AUCTIONS: NEGOTIATING AGENCY AGREEMENTS
This chapter describes the key elements of the agreement between the seller of the artwork and the auction house. It examines the key legal and practical considerations when negotiating such agreements.
CHAPTER 9 PRIVATE SALES OF ART
This chapter covers the sale and purchase of art by private agreement between a buyer and a seller, either directly or through an agent. It looks at the issues to be covered in the sale agreement as well as the express and implied terms. Clauses purporting to limits and exclude in sale and agency contracts are also considered. Where an agent is used, the chapter examines the structure of the agency agreement and terms which are usually to be found in such agreements. The dangers of sub-agencies and secret profits are explained and highlighted. The commercial and legal role of the art dealer is considered.
CHAPTER 10: ETHICS AND ART
Here we examine the ethical challenges associated with creating, acquiring and owning Art. We cover the issue of restitution claims relating to artworks confiscated during the 1933-1945 war in Europe, repatriation and restitution claims by source countries relating to ancient art and cultural property, ownership of excavated underground treasure, the removal of artworks and fixtures from historical buildings in the United Kingdom, the sale and export of artworks incorporating endangered animal parts, the display of challenging artworks which explore the limits of the rights of freedom of expression and the sale of furniture which may present a fire hazard
CHAPTER 11 ART AND TAXATION
A chapter examining the taxes applicable to the ownership, trade in and disposition of art as well as the tax efficient arrangements and schemes available to owners of art.
CHAPTER 12: SHIPPING, EXPORT AND INSURANCE OF ART
This chapter looks at the export and import requirements for Cultural Property in the United Kingdom together with the considerations for the insurance of artworks. It examines the procedure for the permanent export of works of art which are considered to be of particular importance to British culture, the system of temporary admission for artworks brought temporarily into the United Kingdom for sale or exhibition, the Carnet scheme for cross border shipping of art and bonded warehousing. The import licence licence system proposed by the EU is also considered.
CHAPTER 13: MUSEUMS
A chapter which considers the role of museums to the extent that they touch upon the commercial art world. We examine the ethics, law and guidance relating to acquisitions, disposals and loans. The structure of a typical loan agreement is examined as well as the government indemnity scheme under which artworks on loan to museums are insured by the government
CHAPTER 14: ART FUNDS
A brief explanation of how Art Funds use art as an investment
CHAPTER 15: ART DISPUTES
A look at the most common types of dispute surrounding artworks. We examine the basic procedure for bringing a claim before the United Kingdom Courts and then review the key legal and commercial considerations arising from each type of dispute. The types of dispute covered are ownership and title disputes, authenticity disputes, disputes relating to the condition of the artwork and saleroom disputes relating to bidding and payment disputes. Alternative dispute resolution methods are also considered as an alternative to court proceedings.
CHAPTER 16
ANTI MONEY LAUNDERING AND SANCTIONS COMPLIANCE
This chapter examines the extent to which the art industry is exposed to the risks of money laundering, the need for anti money laundering checks, know your client checks and the steps to be taken to ensure sanctions compliance.
CHAPTER 17 BRIBERY
A chapter dealing with the law relating to bribery and its relevance in the context of undisclosed payments to agents and intermediaries
CHAPTER 18 CONFIDENTIALITY AND DATA PROTECTION
This chapter covers the culture of confidentiality which surrounds the art market and the reasons for it. It examines the perceived and actual problems associated with confidentiality. It deals also with the restrictions on the use of personal data imposed by data protection laws in the United Kingdom.
CHAPTER 19 GLOSSARY OF ART TERMS
This glossary provides a guide to meanings of words and expressions commonly used in the art industry
