Art & Cultural Property

Art transactions are like icebergs; at first glance the legal issues appear deceptively simple, but, often, there is a deep underlayer that requires experienced precision navigating matters and an in-depth knowledge of not only the law but also of the art market and its participants.

Loeb & Loeb’s Art and Cultural Property practice includes internationally recognized Chambers-ranked lawyers who have been involved in some of the art world’s most significant and defining art transactions. The team has an unparalleled depth of experience representing sophisticated clients in high-value and complex art transactions and tax and regulatory matters. The team offers in-depth insight into the global art market, advises on ground-breaking transactions involving billions of dollars of art, works with families to structure and manage their art collections and handles their clients’ art disputes, restitution and repatriation matters. The team serves as counsel to high-profile collectors, investors, fiduciaries, dealers, galleries, artists, museums, charitable organizations and financial institutions.

Our team brings a holistic approach to our clients’ art matters—counseling on all aspects of art acquisition, ownership, sales, gifting, succession planning and financing, as well as vigorously protecting our clients’ interests in disputes, settlements and regulatory matters.

Our services include:

We advise on all of the various contracts and documentation needed to facilitate art market transactions, including sale and purchase agreements; auction and gallery consignment agreements; irrevocable bid and guarantee agreements; terms of sale and invoices; non-disclosure and confidentiality agreements; custody and sale on approval agreements; gallery representation and art advisory agreements; private and public art commission agreements; museum and art fair exhibition agreements; and tenancy-in-common and co-ownership agreements. Understanding the intricate logistics required with art, our lawyers handle transactions from the ground up and can assist clients with any applicable legal issue pertaining to fine art insurance, warehouse, shipping, collection database, appraisal and conservation needs.

Our lawyers regularly structure and negotiate art finance transactions for collectors, galleries and financial institutions. Our experience representing clients on both sides of these transactions – global financial institutions as lenders and collectors and galleries as borrowers – gives us a well-rounded view of loan structures and insight into the terms and conditions that are materially impactful for both parties. We also regularly assist clients in connection with bankruptcy and complex loan workout agreements with art assets.

We counsel clients with respect to their art charitable giving goals and legacy plans, and advise on promised gift and donation agreements with museums and other charitable institutions. Our lawyers work alongside clients’ selected appraisers when preparing the requisite documentation for art gifts and have experience handling adjustments and audits with the IRS’ Art Appraisal Services and Advisory Panel. Working with Loeb’s Nonprofits & Tax-Exempt Organizations and Trusts & Estates lawyers, we advise on the formation and administration of private foundations and nonprofit organizations focused on art, and assist artists with the charitable components of their legacy plans.

We work with clients to structure and administer estate, gift and income tax plans involving art assets, and our team frequently serves as art co-counsel to trust and estate and tax practitioners around the globe. Understanding the nuances of art assets, we provide holistic and strategic art planning and management advice to help clients navigate potential pitfalls and complications in their plans as it relates to art. In light of the transitory nature of art, our practice has significant experience assisting clients with sales and use tax issues related to art relocation, acquisition, transfer and disposition.

Our lawyers aim to resolve any art-related disputes privately and in the best interests of our clients. We regularly represent clients who are accused of or are victims of art crimes and offer unique experience litigating at the intersection of state and federal criminal laws and regulatory matters. We have robust experience counseling clients on anti-money laundering due diligence and compliance in connection with art transactions.

We assist clients in navigating the continually complex landscape of restitution and repatriation issues in a respectful and goal-oriented manner.

Our team represents and advises artists and their estates on all types of copyright protection, enforcement and licensing matters, as well as the protection of artists’ names, images and copyright royalties. Additionally, we have experience assisting artists in their collaborations with luxury and fashion brands.

Our clients’ collecting interests extend beyond art. We have experience assisting clients with an array of legal issues related to other collectibles, such as musical instruments, dinosaurs, coins, cars, wine and decorative furniture.