{"id":3497,"date":"2020-05-11T22:33:19","date_gmt":"2020-05-11T22:33:19","guid":{"rendered":"https:\/\/www.rimonlaw.com\/?p=3497"},"modified":"2021-04-06T18:49:35","modified_gmt":"2021-04-06T18:49:35","slug":"fine-art-goes-online-the-virtual-reality-of-covid-19-and-the-changing-face-of-the-fine-art-markets","status":"publish","type":"post","link":"https:\/\/www.rimonlaw.com\/fine-art-goes-online-the-virtual-reality-of-covid-19-and-the-changing-face-of-the-fine-art-markets\/","title":{"rendered":"Fine Art goes online: the (virtual) reality of COVID-19 and the changing face of the fine art markets"},"content":{"rendered":"<p>We wrote earlier about the COVID-19 shutdown threat to gallery solvency, and\u00a0possible creditor claims to works on consignment.<\/p>\n<p>Now two months into confinement, the threat to galleries is real with a quarter of Los Angeles fine art galleries responding to the\u00a0Los Angeles Times April 20, 2020 Fine Art Gallery Survey\u00a0that they would face permanent closure in 2020 \u201c\u2026if the situation doesn\u2019t improve quickly\u2026\u201d A further five of the thirty-five galleries see closure as a possibility.<\/p>\n<p>An April 8, 2020\u00a0Comit\u00e9 Professionnel des Galeries d\u2019Art press release\u00a0warns that one-third of French galleries \u201c\u2026may not succeed in maintaining their activity in the second half of 2020\u2026\u201d, and that \u201c\u2026[t]his shows that the sector requires a strong recovery plan, significant market support from collectors, and a preserved ecosystem\u2026\u201d.<\/p>\n<p>The question of how that ecosystem, both here and overseas, would be preserved was met with quick dealer response.\u00a0<a href=\"https:\/\/medium.com\/@TheFineArtLedger\/fine-art-goes-online-the-virtual-reality-of-covid-19-and-the-changing-face-of-the-fine-art-a8917a0003fe\" target=\"_blank\" rel=\"noopener\">Read the full article here.<\/a><\/p>\n<hr \/>\n<p><a href=\"https:\/\/www.rimonlaw.com\/team\/sam-miller\" target=\"_blank\" rel=\"noopener\">Sam Miller<\/a>, Rimon\u00a0<a href=\"https:\/\/www.rimonlaw.com\/experience\/corporate\" target=\"_blank\" rel=\"noopener\">Corporate<\/a>\u00a0Partner, 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.\u00a0<a href=\"https:\/\/www.rimonlaw.com\/team\/sam-miller\" target=\"_blank\" rel=\"noopener\">Read more<\/a>.<\/p>\n<p><em>Attorney Advertising. This document is not intended to be and is not considered to be legal advice. Transmission of this document is not intended to create, and receipt does not establish an attorney-client relationship. Prior results do not guarantee a similar outcome.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We wrote earlier about the COVID-19 shutdown threat to gallery solvency, and\u00a0possible creditor claims to works on consignment. Now two months into confinement, the threat to galleries is real with a quarter of Los Angeles fine art galleries responding to the\u00a0Los Angeles Times April 20, 2020 Fine Art Gallery Survey\u00a0that they would face permanent closure&hellip;<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[11,8],"tags":[1421,1509,14],"ppma_author":[2085],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fine Art goes online: the (virtual) reality of COVID-19 and the changing face of the fine art markets - Rimon Law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rimonlaw.com\/fine-art-goes-online-the-virtual-reality-of-covid-19-and-the-changing-face-of-the-fine-art-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fine Art goes online: the (virtual) reality of COVID-19 and the changing face of the fine art markets - Rimon Law\" \/>\n<meta property=\"og:description\" content=\"We wrote earlier about the COVID-19 shutdown threat to gallery solvency, and\u00a0possible creditor claims to works on consignment. 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