In recent years, discussions about the 25th anniversary of the passage of Native American Graves Protection and Repatriation Act of 1990 (NAGPRA) and a spurt of highly-contested auctions in France featuring cultural patrimony, have made clear that more needs to be done in the field of repatriation, both on the home front and internationally.
The Art News blog on Antiquities, Archaeology, Art Collecting, Art Education, Events, Exhibitions, Museums,
An outline of the issues that can arise when cultural property is purchased, sold, donated and inherited. Cultural property and art law are complex, but very few cases actually make it to trial and fewer still proceed to resolution there. Many uncertainties exist regarding the application of US laws. We hope to alert practitioners to the pitfalls of ownership of cultural property for the unwary and to help them meet the special needs of clients whose assets include art and artifacts.
Art collectors, art creators, legal and financial planners, executors and trustees should all have familiarity with the basic rules for appraising art, especially for charitable donation. An appraisal is used to determine the Fair Market Value (FMV) of an item for donation. FMV is defined by the IRS as the price that would be agreed on between a willing buyer and a willing seller on the open market, with neither being required to act, and both having reasonable knowledge of the facts.
Documentation during life is inestimable value in managing a collector’s estate or artist’s legacy. Creators and collectors should have a complete and up-to-date running inventory of each of their works, including when it was first copyrighted – that is, created and fixed in a tangible medium. Every artist should have an inventory of the works of art in his or her home, studio, and of the works on exhibition or in a gallery elsewhere.
Announcement – CLE International, Visual Arts & the Law, Santa Fe, NM, July 28-29, 2016,
Kate Fitz Gibbon on The International Arts Marketplace.
Info: cle.com/VisualArts or (800) 873-7130.
Announcement – Santa Fe Community Foundation, April 21, 2016,
Kate Fitz Gibbon on Art: Estate Planning & Charitable Giving.
The Owings Gallery, Santa Fe.
Tax rules for donation, charitable purpose gifts, legal and museum restrictions on donations of ancient, ethnographic, and Native American art.
Announcement – Seventh Annual Conference of the Lawyers’ Committee for Cultural Heritage Preservation (LCCHP), New York, NY, March 25, 2016, Kate Fitz Gibbon on Conflict-Related Looting and Destruction of Cultural Property: Is Current Policy Working?
Video – National Press Club panel, Washington DC, April 30, 2014, with
Dr. Timothy Rub, Dr. Timothy Potts, Matthew Polk, Michael McCullough, Kate Fitz Gibbon, Andrew Adler.
Video – The Asia Society Museum panel, New York, NY, March 18, 2012,
with Kate Fitz Gibbon, Arthur Houghton, Naman Ahuja, Dr. Kurt A. Gitter, James Lally,
James McAndrew, Dr. Julian Raby, Marc Wilson, Dr. Vishaka Desai, Dr. Melissa Chu.