In this newsletter, I look again at the political movement in the arts and how it might harm or benefit owners of historic collections. I also look at buyers and the new UK export regime, a technical issue on benefits and art in offshore trusts and the nature and effect of claims’ registers on art.
20th/21st Century fine art, luxury assets, finance, retail, Asian buyers, NFTs (explained later), no viewing, acting as gallerists and a political agenda are ‘in’ at the international auction houses, leaving everything else as peripheral. However, these much trumpeted offerings don’t co-exist easily and many owners will not be served well by the changes. We discuss why and what options owners might have.
Winter 2020 Newsletter
Since our last newsletter, we have looked at online sales at auction and alternatives to them (the private market is such an obvious boon); also planning matters given the proposed changes to taxation and the heritage regime.
Spring 2020 Newsletter
While in the early grip of Covid 19 we look at recently privatised Sotheby’s, the last major London live sales before lockdown and online collection systems. Anti Money Laundering arrives with little warning throwing up many difficulties and we look again at the UK heritage regime and at proposals to change UK Inheritance Tax which might spur owners to think of planning for the future.
Spring 2019 Newsletter
We look at how generously applied stardust can do wonders for a seller at auction – buyers beware. Also, a change of note in the UK heritage regime for Acceptances in Lieu of Inheritance Tax, a trip to HMRC in Nottingham before they move, chattel licences and the latest on the ever rising buyers premium.
Autumn 2018 Newsletter
In this newsletter we look at ever changing way in which dealers and auction houses try to market art to collectors and the obstacles they can place in the way of collectors. We also give you a taste of HMRC’s thoughts on planning with chattels as expressed in the 2018 Chattel Fiscal Forum and the minutes.
March 2018 Newsletter
There are so many stories about the Salvator Mundi. We concentrate on the private sale brokered by Sothebys that significantly undersold the Christies auction two years later and the way in which offering away from connoisseur categories can help results. Its goodbye to Christies South Kensington and hello to ever more buyers premium.
Autumn 2017 Newsletter
Mark looks at the thorny and complicated issue of guarantees at auction from a sellers perspective and in Part II Charles looks at HMRC’s announcements on chattel licences.