McDermott Webinar, October 2020
This unprecedented time of uncertainty and market volatility has affected nearly every industry, including the art world.
Charles Cochrane of Cochrane Adams Fine Art Agents, Rebecca Lockwood of Sotheby’s and Alyssa Quinlan from Hindman Auctions joined McDermott’s Christen Douglas, Nicholas Holland and Jenny Johnson Ware to flag issues you should keep top of mind when considering the acquisition, gifting and disposition of art. In particular, the panel discussed the duties and potential pitfalls of fiduciaries in managing and disposing of art in the best interest of beneficiaries.
The panel also discussed:
- Issues surrounding the acquisition of art and collections – including concerns with provenance and authenticity
- Responsible ownership of art – including issues with its legal/beneficial title and display
- Gifting of art during life and at death to private individuals and charities
- The sale and disposition of art – including recent developments in the art market, how to decide to pursue a private sale versus auction, and solvency issues with respect to galleries and auction houses
The COVID pandemic has also created a unique strain on museums and galleries. Significantly more museums are deaccessioning their collections, and galleries (especially smaller galleries) are facing insolvency. The panel discussed all of these issues both from a US and a UK perspective.
Watch the discussion here.
Family Balance Sheet, 2020
For the third year running Cochrane Adams Fine Art Agents was involved in the The
Family Balance Sheet Event, virtually hosted by Stanhope Capital at KPMG, London. The event was designed to give trustees a brief overview of the key UK asset classes: how they have performed, the outlook and particularly this year, the opportunities thrown up during the UK lockdown. There was also a UK tax overview from KPMG.
Here is the recording of the event. If you would like to watch the art part only you can start that at around 53 minutes. Apologies for the background noise – the trails of a virtual event.
Family Balance Sheet, 2019
We are pleased to announce our involvement for the second year running in The Family Balance Sheet Event, hosted by Stanhope Capital at KPMG, London. The event is designed to update families and their advisers on the performance and outlook for the most popular asset classes held in their overall balance sheets. Similarly to last year, the key characteristics of each asset class will be examined by a specialist from each sector. This year will give particular focus to Responsible Investing.
STEP Guernsey Lecture, February 2019
We were in Guernsey in early 2019 presenting to a packed house of Trustees and those with a fiduciary duty on the need for independent art advice. We looked at: guarantees at auction; private sales; risks and rewards of different sale options, buying and collection management for clients.
JP Morgan Presentation, London, 2019
Family Balance Sheet, 2018
Stanhope Capital put on an annual presentation on the assets most families, of acertain wealth, will have. Advisors from different asset classes had ten minutes to give investment/asset advice to families and their advisors: Cochrane Adams Fine Art Agents spoke on the art market. We were kindly hosted by KPMG at their Mayfair offices with the other presentation in Jersey. A further series of talks are set for October 2019.
Trustees and the Art Market, Old Government House, Guernsey
After breakfast, Susan Johnson of Bircham Dyson Bell (also ex-Chrisites) went through the legal requirements placed upon Trustees when holding works of art using a case study. Charles explained how they might be satisfied with independent art advice.
Book Launch at Lisson Gallery, June 2018
The Art Collecting Legal Handbook is a must for collectors. We hosted the London launch of the latest version with Bruno Boesch (co author and instigator of the book) and Farrer & Co at the Lisson Gallery who were showing Jorinde Voigt: Both Sides Now and Joyce Pensate: FORGETABOUTIT.