MARKET ANALYSIS

At the Art Business Conference last September organised in London by Art Market Minds, a delegate asked whether a sale to a consumer concluded by a dealer in his gallery could constitute an ‘off-premises’ sale. The short answer is that it can. The question is significant because if a dealer sells ‘off-premises’ to a consumer, he is required by law (pursuant to the UK Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013) to provide detailed information to the consumer in advance of the sale, including information on the consumer’s right to cancel the sale within 14 days. Further, if the consumer elects to cancel the sale within the statutory period, the dealer must refund the consumer in full. ..

On 15 June 2015, the New York State Senate approved a bill, S1229A-2015 (the “Bill”) to amend New York Arts and Cultural Affairs Law (“NYACAL”) in relation to opinions concerning authenticity, attribution and authorship of works of fine art. The Bill, which we hope will one day become law, aims to remedy some deficiencies in NYACAL around the absence of protection for experts rendering independent, good-faith opinions about authenticity, attribution and …

Deloitte Luxembourg and ArtTactic is delighted to present the 3nd edition of the Art & Finance Report 2015. A joint effort, in which Deloitte and ArtTactic analyzed the industry’s development over the last 14 months.

The latest results from the ArtTactic US & European Art Market Confidence survey show that the experts continue to feel confident about the high-end of the post-war and contemporary art market...

Deloitte Luxembourg and ArtTactic is delighted to present the 2nd edition of the Art & Finance Report 2013. A joint effort, in which Deloitte and ArtTactic analyzed the industry’s development over the last 14 months.

Total auction sales at Sotheby’s and Christie’s in the Chinese art, Old Masters, Impressionist & Modern, and Contemporary categories grew by 5.9% in 2012 to US$6.64 billion (including Buyer’s premium), from US$6.27 billion in 2011.

The term ‘minimalism’ is a trend from early 19th century and gradually became an important movement in response to the over decorated design of the previous period. Minimalist architecture became popular in the late 1980s in London and New York.