Recent news of “Freeports” opening in Delaware prompts a review of what these facilities are for, what they are not for, and where collectors and dealers can get themselves into trouble. When used carefully there are meaningful tax efficiency opportunities, but no one should think that they are or can be a one-stop way to avoid sales tax in particular. Thoughtful planning is the key.
Topics: New Hampshire, Fritz Dietl, David Arendt, Delaware, Geneva, Oregon, Luxembourg, Pure of Love of Art Versus Mere Investment, Customs, Crozier Fine Arts, yco International Ltd., Sales & Use Taxes, Dennis Kozlowski, Delaware Freeport, Freeports, Alaska, Tax, Montana
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.
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
A reminder of this month’s marquee event in Geneva, the second in a two part series “Art Finance and Law” organized by the Art Law Foundation at the University of Geneva (the first, in London last November, is recapped here). My ticket is booked, so I hope to see you there. If you’ll be in attendance, drop me a line so we can connect either at the conference or in Genveva. Bon voyage!
Topics: Pierre Gabus, William Pearlstein, Prof. Xavier Oberson, Université Lyon, Art Finance, Sotheby’s Financial Services, Alexandre Quiquerez, Philip Hoffman, Myret Zaki, Emigrant Bank Fine Art Finance, Frédéric Dawance, Tim Hunter, Art Business and Research Unit at Sotheby’s Instit, Art Law Foundation, London, Melanie Gerlis, David Arendt, The Art Newspaper, Geneva, The Fine Art Fund, Fine Arts Expert Institute, Philipp Fischer, Oblyon Art Business Intelligence, Manuela de Kerchove, Banque Lombard Odier & Cie SA, Luc Thévenoz, Sandrine Giroud, Lalive, Natural Le Coultre, Yan Walther, Jan Prasens, Farrer & Co LLP, Paul Aitken, Marco Mercanti, Falcon Fine Art, Events, Sebastian Fahey, Stefanie Berloffa-Spadafora, Rebecca Hawkins, Bilan, Tutela Capital, Private Art Investor, Abels Avocats, James Carleton, Sotheby's, borro, Li Jun Xian, Université de Genève, Yves Bouvier, Schroders, The Luxembourg Freeport, Fabian Bocart, Fine Art Fund Group, Art Finance And Law Conference Series
Last month we posted word of an exciting two-part series hosted by The Art Law Foundation. The first session of “Art Finance and Law” took place on November 26, 2014 in London. The Thanksgiving holiday kept me from attending, but a thorough recap has been written by Rebecca Hawkins at Private Art Investor of the day’s conference, entitled “Risk, Rules and Opportunities in Art Investment.” Hawkins writes, “The key themes that reoccurred throughout the day’s discussions were those of regulation and reputation.” To put it another way, the conference seems to have focused on the timely issues of where art fits into financial planning and secured finance as an asset class, and on a discussion on the proper role of regulation (there being a decided lack of it, compared to other asset classes in the same order of magnitude). The conference also made the presentations themselves available, here. The recap reminded me that I wished I had been able to attend.
Topics: William Pearlstein, Art Finance, Sotheby’s Financial Services, Philip Hoffman, Emigrant Bank Fine Art Finance, Tim Hunter, Art Business and Research Unit at Sotheby’s Instit, Art Law Foundation, London, Melanie Gerlis, David Arendt, The Art Newspaper, Geneva, Oblyon Art Business Intelligence, Lalive, Paul Aitken, Marco Mercanti, Falcon Fine Art, Events, Sebastian Fahey, Stefanie Berloffa-Spadafora, Rebecca Hawkins, Anna Dempster, Bilan, Private Art Investor, Sotheby's, borro, Li Jun Xian, The Luxembourg Freeport, Fine Art Fund Group, Art Finance And Law Conference Series
A terrific pair of events organized by the Art Law Foundation in Geneva has been accounced. As the Foundation describes it:
The aim of the series is to examine the growing practice of art investments, and the use of art as an investment asset. Various top speakers from academia and practice will explore securitisation of art as an asset, the differences between art funds and hedge funds, the peculiarities of the portfolio and fund management, the different types of loans against art collateral, and the risks and rules for art investments.
Topics: William Pearlstein, Art Finance, Sotheby’s Financial Services, Philip Hoffman, Emigrant Bank Fine Art Finance, Tim Hunter, Art Business and Research Unit at Sotheby’s Instit, Art Law Foundation, London, Melanie Gerlis, David Arendt, The Art Newspaper, Geneva, Oblyon Art Business Intelligence, Paul Aitken, Marco Mercanti, Falcon Fine Art, Events, Sebastian Fahey, Stefanie Berloffa-Spadafora, Anna Dempster, borro, Li Jun Xian, The Luxembourg Freeport, Fine Art Fund Group, Art Finance And Law Conference Series