The End of Fine Art Experts? A Few Lessons Learned From The Recent Agnes Martin Litigation
Insights July 18, 2019
Picture this.
The Picasso that always hung in your childhood livingroom; a gift to your grandfather from a grateful gallery owner, liberated as your grandfather’s 264th Infantry Regiment worked its way through France in the dying days of World War II. As the years passed, and family generations moved on, the family puts the Picasso up for sale.
But what was always a family certainty, becomes clouded in doubt when the Picasso heirs refuse to authenticate the piece as an original Pablo Picasso. What was a family treasure, is now worthless.
Expert opinion in the authenticity of works of fine art is a critical component of the fine art markets. Without it, the wheels for a large part of the market-the secondary fine art market for essentially deceased artists-would be thrown into confusion. The fictional Picasso scenario is made far worse when sellers are revisited, sometimes long after the cash has gone, by buyers with doubts as to a piece of fine art’s authenticity. Read the full article here.
Sam Miller, Rimon Corporate Partner, advises clients in acquisitions and disposals, corporate finance, corporate and partnership structuring and shareholder, operating and buy-sell agreements, general corporate matters, supply, distribution, consignment and inventory management arrangements, and other commercial transactions. He has extensive experience in the metals and transportation industries as well as with technology start-ups, particularly token-driven blockchain businesses, and also advises clients active in the fine art markets. Sam is licensed in California, England and Wales, and South Africa, with specific expertise in all three jurisdictions. He is adept in helping his clients navigate the intricacies of cross-border business and inward investment. Sam has advised clients in a range of countries, including England, Spain, France, Turkey, Lithuania, Latvia, United Arab Emirates, Israel, South Africa, Hong Kong, South Korea, and the United States. Read more.
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