In a re-release of last June’s episode, Katie and Steve speak (again) with digital art and NFT enthusiast Jason Bailey about the sudden rise of NFTs in the art world, what they really are, why they have value, and who is interested in them and why.
Katie and Steve speak with veteran cultural property and art lawyer, Tom Kline, about his representation of Christie’s and Michael Steinhardt in litigation brought by Turkey to possess a millennia-old Anatolian marble statue (the Stargazer) owned by Steinhardt and sold by him through Christie’s. After a trial in the Southern District of New York, Turkey lost for the primary reason that they could not provide facts supporting their claim to ownership of the Stargazer, specifically that it was stolen from modern day Turkey after 1906.
Steve and Katie talk to Susan Mumford and Chris King, co-founders of ArtAML, about the recent roll out of AML regulations covering art market participants in the United Kingdom, who is implicated, how they can comply, and what this means for art businesses and the culture of secrecy in the art market generally. The requirement to determine and seek documentation of the ultimate beneficial owner on each end of the transaction is something financial institutions have long done, but not art dealers. ArtAML is an online platform designed to help art market participants comply with their legal obligations of due diligence and documentation. This conversation is of particular interest to those in the United States as the United Kingdom is the second largest art market outside the United States, and we expect AML regulations to roll out to the art market in the United States soon.
Katie and Steve speak (again) with digital art and NFT enthusiast Jason Bailey about the sudden rise of NFTs in the art world, what they really are, why they have value, and who is interested in them and why.
Katie and Steve finally tackle the evolving area of fair use as a defense to copyright infringement with Luke Nikas, attorney for the Andy Warhol Foundation and Partner at Quinn Emanuel. Luke represents the Foundation in its ongoing litigation with photographer Lynn Goldsmith about Warhol’s use of Goldsmith’s photograph of the artist Prince as an artist study for a series of screen prints. Goldsmith claims Warhol infringed her copyright in the original photograph. The Warhol Foundation says Warhol’s use of the photograph is fair use under the Copyright Act. The trial court agreed with the Warhol Foundation and the Second Circuit recently agreed with Goldsmith. Katie, Steve, and Luke discuss this complicated area of law and how artists navigate (or don’t) around it.