LaSusa & Deb, PLLC: Art Law

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Sunday, June 23, 2013

LaSusa & Deb at Asia Week 2013

Partners Raney LaSusa and Mishty Deb attended Asia Week in New York this March.

Asia Week is an annual event in New York City dedicated to the celebration and promotion of Asian Art. This year, dealers, collectors, auction houses, museums, and specialists from around the world collaborated in New York to display, promote, and discuss Asian Art. Participating New York galleries displayed countless exquisite works from China, Japan, India, Korea, Tibet, and many other countries.

In addition to the exhibitions, attendees and participants were offered access to lectures, workshops, and special sales. Several auctions were also held by Sotheby's, Christie's, Bonhams and other auction houses.

This event is a must for Asian Art collectors and enthusiasts. It is also a great opportunity for anyone curious about Asian art to learn more about these rich cultures. Experts and novices alike can benefit from a trip to Asia Week.

The 2014 event is scheduled for March 14-22. For more information about this year's offerings and updates for next year, check out http://www.asiaweekny.com/

The Blog does not create an attorney client relationship. LaSusa & Deb, PLLC is a law firm and the contents of this blog may contain legal information, but such information does not create a relationship between the reader and LaSusa & Deb, PLLC or any of its attorneys. Information herein is not guaranteed to be complete, correct or up-to-date nor does it reflect the opinions of LaSusa & Deb, PLLC. Please read full disclosure at the bottom of the page.

Art and Law Newsletter: New York's Metropolitan Museum of Art under fire for allegedly misleading admissions policy

The Met, located in New York's famous Central Park, is facing legal action for the second time in only 4 months over its admission fee policy. The museum and the city have an agreement which allows the museum to occupy city-owned land rent free, provided the public may enter free of charge several days during the week. Visitors are greeted with signs reading "Admissions Recommended," which some argue are intentionally misleading and which suggest that an entry fee is required. Cases were filed in November of last year and again this spring, alleging that this signage violates the Met's agreement with the city. In a statement by the museum's Director and CEO, the Met denies the ambiguity of the signs and states that this "recommended admissions" policy was actually agreed to by the City of New York. It remains to be seen whether the signs will have to be removed or reworded.

The Blog does not create an attorney client relationship. LaSusa & Deb, PLLC is a law firm and the contents of this blog may contain legal information, but such information does not create a relationship between the reader and LaSusa & Deb, PLLC or any of its attorneys. Information herein is not guaranteed to be complete, correct or up-to-date nor does it reflect the opinions of LaSusa & Deb, PLLC. Please read full disclosure at the bottom of the page.

Art and Law Newsletter: Kansas City Art Institute pursuing promised donation

In 2005 Larry and Kristina Dodge pledged $5 million to the Kansas City Art Institute for the construction of a new building which would bear their name. The Dodge Painting Building now stands on the KCAI campus, despite the fact that the Dodges only paid $1 million of the promised amount. The school hired an attorney and initiated litigation in order to compel the donors to pay the outstanding amount, which resulted in a $3.3 million judgment against the family. Mr. Dodge, a former banker once worth an estimated $1 billion, has lost his fortune and declared bankruptcy, partially, he claims, due to the lawsuit. Mrs. Dodge now fears she will have to file for bankruptcy as well if the school continues to pursue the matter.

The Art Institute maintains that the Dodges are under a contractual obligation pay the amount pledged. In fact the Institute argues that as a nonprofit organization it is under strict accounting guidelines, under which it has already reported the pledged donation. Failure to collect the full amount may result in an accounting deficit, which could negatively impact future donations.

Art and Law Newsletter: American collector finally returns 10th century idol stolen in 1974

Norton Simon, an American art collector, was in possession of a stolen Indian bronze for nearly four decades. The priceless bronze, an idol of Lord Nataraja, was taken from the Sri Sivagurunathasamy temple of Sivaputam, located in the Thanjavur district. According to officials, the idol was entrusted to a local sculptor for repairs in 1954. A copy was made and given to the temple, while the original was smuggled to Bombay, and eventually sold to Simon. The idol was later confiscated by Scotland Yard when Simon sent it to a restorer in London for repair. British authorities contacted the Indian government, who reached an out of court settlement with Simon. Under the terms of this agreement, Simon agreed to return the idol, but only if he was allowed to retain the bronze for nearly 10 years, and if the Indian government agreed not to inquire about any other works in his possession. The work is now in the Kapaleeshwar temple in Chennai.

Art and Law Newsletter: India's Ministry of Culture signs new agreement with the Met

On March 19, 2013 an agreement between the Metropolitan Museum of Art and India's Ministry of Culture was signed in New Delhi. Under the auspices of this new agreement, the two institutions will cooperate in areas such as public education, conservation, academic research, and exhibition through short- and long-term loans. One exhibition already being planned will be a large collection of works from the Deccan region of India, scheduled to open at the Met in spring of 2015. This exhibition, which is provisionally titled "The Art of India's Deccan Sultans, ca. 1500-1700," will feature nearly 150 works and will focus on the region's multicultural influences. Another early program to come from this agreement is the Indian Conservation Pilot Program. This program will promote conservation and education through fellowships, seminars, and initiatives at museums throughout India.

Art and Law Newsletter: Sotheby's auction indicates resurgence of contemporary Indian art market

In March art collector Amrita Jhaveri sold several works of modern and contemporary Indian art at a Sotheby's auction in New York. The 43 works sold, formerly a part of the Amaya Collection, fetched $6,694,875. The market for contemporary Indian art suffered a downturn in 2008 with the onset of the global recession, but observers are hopeful this successful sale indicates a new trend. The sales prices for more than half of the lots exceeded their high estimates. Experts agree that this sale could prove very important to the Indian art world.

Ms. Jhaveri was born in Mumbai and currently divides her time between homes in Mumbai and London. She is one of the preeminent figures in the Indian art market. She has pledged to donate a portion of last month's auction proceeds to KHOJ International Artists Association, a nonprofit artists' collective based in Delhi.

Monday, November 19, 2012

Fine Art at CostCo?

Costco is now returning to the arena of high dollar art. Now so far we have not seen any million dollar pieces, but there are prints and lithographs from names like Matisse and Chagall. There are also original paintings from artist like Johnny Botts and original collage pieces from the likes of Hilary Williams.
What makes this even more interesting is that Costco is willing to take the risk of re-entering this market with new collaborator Greg Moors of Art For Action base in San Francisco (artforaction@comcast.net). Why? Back in 2006 Costco sold Picassos that were later found to be of questionable authenticity. You can read more about the incident at: New York Times Article: Picasso's Daughter Says Drawing Is a Fake
Of course Costco is not the first retail chain to enter the world of high dollar art. The department store Sears sold more than 50,000 pieces of art from the Vincent Price Collection of Fine Art from 1962-1971. In fact there is a very interesting YouTube clip of the Sear's employee training related to the sale of the Vincent Price Collection (Watch it at:Youtube Vincent Price Collection.)
You can read more about this story at: Studio 360- Big Box Retailers Get Into Art Market and see the collection yourself: Costco Fine Art Collection

The Blog does not create an attorney client relationship. LaSusa & Deb, PLLC is a law firm and the contents of this blog may contain legal information, but such information does not create a relationship between the reader and LaSusa & Deb, PLLC or any of its attorneys. Information herein is not guaranteed to be complete, correct or up-to-date nor does it reflect the opinions of LaSusa & Deb, PLLC. Please read full disclosure at the bottom of the page.

Tuesday, November 13, 2012

The Dallas International Art, Antique, and Jewelry Show

Last week I was lucky enough to get VIP tickets for the International Art, Antique, and Jewelry Show.

An event like this provides a venue for over one hundred highly respected and renowned international exhibitors to showcase an extensive selection of fine art, antiques and jewelry. It was any avid collectors dream. My friend and I were able to personally examine notable works such as several original Van Goghs, a few Monets, and a couple of Picassos over sips of complimentary champagne, cocktails, and tasty tidbits,.

With more than 200,000 items on display for purchase there was something for every type of high end collector. Items ranged from Asian Art & Antiquities, Furniture, Fine Jewelry, Paintings, Textiles, Sculpture, Clocks, Oriental Carpets, Glass, Bronzes, Political Memorabilia, and Antique Armor.

The event was definitely a great success with a glittering array of the most serious of Dallas' Collectors as well as the most reputable International Exhibitors.

Saturday, October 13, 2012

Art and Law- The Hyder Collection

Last month I had the pleasure of attending a lecture, The Hyder Collection A Historical Retrospective of the Law Through Antiques and Art, with Elton M. Hyder. Mr. Hyder is the President and CEO of the EMH Corporation & the C&E F.L. Partnership. His parents created the Hyder Collection, a collection of legally inspired art pieces. When I attended the University of Texas School of Law the Hyder collection was housed in the UT Tarlton Law Library. I have many fond memories of taking study breaks to examine the artwork. Everything in the collection from cartoon sketches of famous judges and patriotic WWII posters to African tribal art pieces had an interesting piece of history to it. The wide and varied artwork that made up the Hyder collection created a unique library study experience for me and for many students before me, which is why it is so sad to see it go. It is hard to imagine what the new Tarlton Law Library will be like without this extensive and prestigious collection that for so long defined its character.

Listening to Elton Hyder speak about his parents and their passion for collecting art was also very touching. Elton's father, Elton M. Hyder, Jr., became the youngest attorney to prosecute war crimes for the United States, when he was posted as the Associate Counsel for the United States prosecution team during the Tokyo War Crimes Tribunal. It was this experience that started him on the path of collecting art that related to the practice of law. In 1981, when the Tarlton Law Library was remodeled, the Hyder Collection was first housed in the library. Later Elton Hyder's wife, Martha Hyder, added collections of kilim rugs, traditional African art, and bright Georgia O'Keeffe posters to add an atmosphere of warmth and hominess for students studying in the library.

Amongst the more interesting pieces were an exact replica of the arrest warrant issued by Queen Elizabeth for her sister Mary Queen of Scotts and the death mask of 20th-century British executioner Albert Pierrepoint. Albert Peirrpoint is believed to have executed an estimated 433 men and 17 women, including 200 Nazi war criminals after World War II.

I had the opportunity to view the collection one last time before it was put up for auction after Mr. Hyder's lecture. You can read more about the Hyder collection at: https://tarlton.law.utexas.edu/exhibits/hyder/index.html.

The Blog does not create an attorney client relationship. LaSusa & Deb, PLLC is a law firm and the contents of this blog may contain legal information, but such information does not create a relationship between the reader and LaSusa & Deb, PLLC or any of its attorneys. Information herein is not guaranteed to be complete, correct or up-to-date nor does it reflect the opinions of LaSusa & Deb, PLLC. Please read full disclosure at the bottom of the page.

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