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Buying and selling art

With decades of experience working with many of the world’s top art dealers, collectors and institutions, we are well placed to advise on making international artwork transactions and issues related to importing and exporting across borders, such as tax.

Collecting art can truly be a lifetime passion but it can also be a very valuable investment.

Our art team has decades of experience advising many of the world’s top collectors, dealers, galleries, museums, charitable organizations and auction houses on an array of legal issues connected with the buying and selling of fine art, antiques and other collectibles at private auction and privately.
 

Art auctions taking place in salerooms around the world have presented art collectors with more opportunities to buy and sell art on a global platform. We can advise you on the numerous issues that may arise from these international art transactions, including foreign exchange rate issues, tax issues arising from non-US collectors keeping art in the US, as well as tax issues resulting from importing and exporting art across state and national borders.

If reasons arise to sell your works in a collection, e.g. “trading up” by buying a better example, or changing collection focus, or market opportunity to buy or sell, or myriad other reasons, planning can make a substantial difference in the amount of tax that must be recognized upon a sale. By structuring the sale of one work and purchase of another as a like kind exchange that satisfies very specific IRS requirements, you may be able to defer gain recognition from the sale.

Track record

Our team

Diana Wierbicki

Diana Wierbicki

Partner | New York

Diana Wierbicki

Partner | New York

Art law

Paul R Brecknell

Paul R Brecknell

Partner | London

Paul R Brecknell

Partner | London

Real estate

Giulia Cipollini

Giulia Cipollini

Partner | Milan

Giulia Cipollini

Partner | Milan

Private client and tax

Graham Elliott

Graham Elliott

Consultant | London

Graham Elliott

Consultant | London

International corporate tax

Paul M. Roy

Paul M. Roy

Of counsel | New York

Paul M. Roy

Of counsel | New York

Private client and tax

Ben Simpson

Ben Simpson

Special counsel | London

Ben Simpson

Special counsel | London

Corporate

Adam Dolder

Adam Dolder

Senior associate | London

Adam Dolder

Senior associate | London

Corporate tax

Amanda A. Rottermund

Amanda A. Rottermund

Senior Associate | New York

Amanda A. Rottermund

Senior Associate | New York

Art law

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