Category Archives: Art Market

Art Authentication: Interview with Denis Moiseev of Hephaestus Analytical

Posted on: January 29, 2024 by agata.becker

Art transactions continue to be plagued by forgeries, and trust alone among the various players is not sufficient to prevent damage to the market. Art authentication has always been a critical aspect of the art world, but it can often be unclear and confusing, as determining provenance and legitimacy are constant concerns. Recently, we at […]

NFTs in the spotlight again – this time from a UK Parliamentary Committee

Posted on: January 30, 2023 by Emily Gould

“A year of great change” was how IAL Director, Alexander Herman, described 2022 in the IAL blog’s customary review of the year. Change has certainly been no stranger to those invested in NFTs and other crypto markets over the past year or so, with prices fluctuating wildly and markets extremely volatile. The soaring prices of […]

Important High Court decision on authenticity and dealers’ responsibilities

Posted on: January 23, 2023 by Emily Gould

In an important decision handed down at the end of last year [1] the High Court upheld most of the claims brought by an eminent purchaser against a well-known antiquities dealer in relation to the (in)authenticity of the artefacts in question. It is rare that authenticity claims reach the courts, and when they have done […]

High Court dismisses claim over sale of Chardin painting

Posted on: December 13, 2022 by Michael Bowmer

The High Court has dismissed a multi-million pound negligence claim [Feilding & Anor. v. Simon C. Dickinson Limited [2022] EWHC 3091 (Ch)] brought by the Countess of Wemyss and her co-trustee against an art dealer over the sale of the painting “Le Bénédicité” by Jean-Baptiste-Siméon Chardin. The painting had been acquired by the Countess’s ancestors in […]

Shedding light on an opaque market: The latest anti-money laundering guidance for the UK art market

Posted on: December 8, 2022 by Julia Rodrigues Casella Hommes

The latest guidance on the anti-money laundering (AML) regulations as they pertain to the UK art market has finally brought about some much-needed clarification on some aspects of the regulations that had remained up until now somewhat difficult to comprehend and, more importantly, apply to day to day business. There are many aspects of the […]

UK’s Ivory Act 2018 finally in force

Posted on: June 16, 2022 by Emily Gould

It’s probably fair to say that not all of our predictions for 2022 in our traditional inaugural blog post of the year have yet come to fruition – or indeed, will do so before the year is out. On one topic, however, we called it right: that this year would finally see the UK’s Ivory […]

Philbrick sentenced to seven year jail term – a rogue bad apple or a pawn in an industry rotten to its core?

Posted on: June 1, 2022 by Emily Gould

Art dealer turned con-artist Inigo Philbrick was sentenced last week by a US District Court to seven years behind bars. Described as “a serial swindler who took advantage of the lack of transparency in the art market” Philbrick defrauded numerous art traders, lenders and investors out of a reported US $86 million in a series […]

NFTs as property: courts start to rein in the NFT ‘Wild West’

Posted on: May 11, 2022 by Emily Gould

The NFT space is commonly characterised as a ‘Wild West’, where anything goes and legal controls are minimal. A recent decision of the UK High Court suggests that the law’s lasso of control is at least starting to bring some order to the purported chaos. In a case involving the alleged theft of two NFTs […]

US Treasury Study on Money Laundering Risks in Art Trade

Posted on: April 21, 2022 by Alyssa Weitkamp

On February 4, 2022, the United States Treasury Department released its Study on the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art. In this Study, the Treasury Department goes through the basics of money laundering in the art world, the particular risks the art world presents for money laundering, […]

What’s new for the export of works of art? IAL seminar with Maurice Turnor Gardner LLP shines a light on recent developments

Posted on: February 23, 2022 by Emily Gould

The mobility of works of art, people and almost everything else has been severely restricted over the past two years by the Covid-19 pandemic. Fittingly, then, as international travel becomes possible once again, the IAL’s first in-person seminar since February 2020 was dedicated to the topic of art exports. It was a pleasure to welcome […]