Katie and Steve discuss some recent art museum-related legal(ish) developments, including New York’s new legislation requiring labeling of Nazi-looted art, the AAMD’s long-awaited changes to its deaccessioning policy, and an unusual gift/sale of part of MoMA’s collection.
To open Season 6, Katie and Steve discuss the shocking arrest of Jean-Luc Martinez, director of the Louvre in Paris from 2013 to 2021, related to his involvement in the alleged trafficking of antiquities for the Louvre Abu Dhabi with French criminal lawyer Sarah Arpagaus. They discuss cultural property crimes more broadly and take a detour into the world of French criminal law and its striking difference with the system here in the US.
Steve and Katie speak to anti-money laundering and sanctions expert Paula Trommel of Corinth Consulting about Russian sanctions and their impact on the art market in the short and long term.
Katie and Steve speak with Evan Beard, currently Executive Vice President at Masterworks, about fractional ownership of art and new art securitization trends and initiatives, who the issuers and investors in this space are, and what they can achieve through these alternative investment structures.
Steve and Katie give a brief update on New York City’s recent repeal of its regulations governing auctioneers and auction practices. These regulations provided consumer protections by enforcing a measure of transparency into the auction process, such as requiring auctioneers to publicly disclose when they had a financial stake in an object being sold. Interestingly, major stakeholders appeared surprised by the repeal, which they had not requested and seemed indifferent about.