Art Law

A common concern among art collectors is whether and when they should hire an art law attorney. In the simplest terms, as the value of the artworks one purchases increases, so too does one’s need for specialized legal advice. That doesn’t mean, however, that an art law attorney isn’t also helpful for novice collectors. From pre-purchase contract negotiations to general counsel on holding or loaning a work of art, a sound art law attorney offers value well in excess of their fee. Here, I spoke to one leading art law attorney based in Russia - it’s me Kseniya Kadochnikova - to get her insights on the most common reasons collectors engage her services and some of the methods they employ to safeguard clients’ interests.

There are many opportunities to benefit from legal guidance, even before purchasing an artwork. First among these are knowing ways to protect yourself against potential future issues surrounding title. Collectors today need to be very sensitive to the possibility that an artwork or antiquity may be stolen or that an incomplete or suspicious ownership history may raise questions about the title to the work and most certainly affect the work’s value or marketability.

Title protection can also be built into the purchase documents themselves. A purchase contract should include that the seller has full legal right to sell the work and that the work is not subject to any rights, claims, liens, or other encumbrances. It should also articulate that the work was lawfully exported and imported as required by applicable laws, and that all provenance documentation known to the seller has been provided. In the same respect, when title transfers, including when the risk of loss or damage passes from the seller to the buyer, this should also be included in the documentation.

All in all, having an art law attorney that has a collector’s best interests in mind can help protect against the potential pitfalls that can come with collecting art.