New Rules on the Import of Cultural Goods in the EU to Place Burdens on the Art Market
A version of this article, authored by Phoebe Kouvelas, was published by Private Art Investor. Read it here.
The EU passed a Regulation to ensure the prevention of terrorist financing and money laundering through the sale of pillaged cultural goods to buyers in the Union. EU dealers and collectors have some time to prepare; below are a few suggestions.
Read MoreA Step Closer to Regulation in the Art Market: New AML Obligations to be Imposed on EU Art Businesses
This article is authored by Phoebe Kouvelas LL.M. and has been first published in the Art & Museum Magazine, Summer Issue, 2019 p. 30
It is important that art businesses act proactively and take all the necessary steps to implement the obligations imposed by the 5th AMLD as soon as possible in order to minimize the risk of being found guilty of a criminal offence.
Read MoreΣτο στόχαστρο της ΕΕ οι έμποροι έργων τέχνης για ξέπλυμα μαύρου χρήματος →
Νομικές Συμβουλές για Αγορά Έργων σε Δημοπρασία
Όταν πέσει το σφυρί, ένα δεσμευτικό συμβόλαιο δημιουργείται μεταξύ του υπερθεματιστή και του οίκου δημοπρασιών. Είναι σημαντικό να γνωρίζετε του όρους ενός τέτοιου συμβολαίου πριν πλειοδοτήσετε.
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Secret Commissions in Art Transactions: Risks & Safeguards
This article is authored by Phoebe Kouvelas LL.M. and has been first published in the Art & Museum Magazine, Summer Issue, 2017, p. 24-25
With confidentiality often cited as an excuse to avoid disclosure to the principals of the existence and role of any given intermediary, conflicts of interest inevitably arise with serious consequences for all involved.
Read MoreMoney Laundering through Art: What All Stakeholders Must Know
This article is authored by Phoebe Kouvelas, LL.M. and has been first published in the Private Art Investor on April 30th 2018.
Art has become an attractive sector for making the proceeds of all types of illegal activity appear legitimate.
Read MoreManaging Legal Risks in Museums and Large Collections: A Call for a Risk-Based Approach
This article is authored by Phoebe Kouvelas LL.M. and has been first published in the Art & Museum Magazine, Winter Issue, 2017, p. 24-25
Most museums have a view on what their principal legal risks are; nevertheless, those are addressed through the use of empirical checklists designed to avoid pitfalls or after a triggering event. What is in fact needed is the adoption of processes, procedures and controls based on the type and level of risk associated with each activity - a risk-based approach (RBA)
Read MorePart 1: Do Museums Run Legal Risks? An Illustration
Museums and large private collections run significant legal risks whether they are preparing for an exhibition, accepting a donation in good faith or lending works from their collections for people around the world to appreciate.
Read MorePart 2: Do Museums Run Legal Risks? The Solution
In an ever more complex art world, the proactive assessment and management of legal risks has become a necessary exercise for museums and art collectors.
Read MoreRuling: Buyers of fine art to pay resale royalty?
Buyers beware: you may be liable to pay resale royalty to the creator of a work of art.
Read MoreArt as Loan Collateral: Part I
Art can be used as an alternative means to obtain liquidity - and is increasingly being used as such.
Read MoreArt as Loan Collateral: Part II
Depending on where the artwork is located, the borrower may keep enjoying the art, or he may have to surrender it to the lender.
Read MoreWith art theft on the rise, is your fine art collection safe enough?
The risk taken by museums and collectors by not covering against theft is staggering and hard to justify.
Read MoreIs it Authentic or is it a Fake? Finding out a little too late..
The risks & potentially significant losses of buying a fake work of fine art can be mitigated or averted through pre-sale due diligence.
Read MoreΑυθεντικό ή Πλαστό; Ανακαλύψτε το πριν είναι αργά..
Το ρίσκο αγοράς πλαστού έργου και τα πιθανά σημαντικά κόστη μπορούν να αποφευχθούν επιδεικνύοντας την δέουσα επιμέλεια πριν την αγορά.
Read MoreSmart VAT Strategies When Importing Art in Europe
Getting to know how to navigate through Europe's import VAT rules could save you from considerable costs.
Read MoreΈξυπνες Στρατηγικές ΦΠΑ για την Εισαγωγή Έργων Τέχνης στην Ευρώπη
Μαθαίνοντας πώς να πλοηγείστε στα καθεστώτα που διέπουν τον ΦΠΑ εισαγωγής της Ευρώπης, θα μπορούσε να σας γλυτώσει από σημαντικά κόστη.
Read MoreBuyers and Sellers of Fine Art: watch out for what is not visible in broad daylight
Buyers: before you invest in that work of art you so badly want, make sure you get what you pay for!
Sellers: having proof with regards to the condition of your art at the time of sale, can potentially save you a lot of unnecessary, and possibly costly, future trouble.
Αγοραστές και Πωλητές Έργων Τέχνης: προσοχή σε ό,τι δεν φαίνεται με γυμνό μάτι
Αγοραστές: πριν επενδύσετε σε εκείνο το έργο που θέλετε τόσο πολύ, σιγουρευτείτε ότι αυτό που αγοράζετε αξίζει τα χρήματα που πληρώνετε!
Πωλητές: το να έχετε απόδειξη σχετικά με την κατάσταση του έργου την ώρα της πώλησης μπορεί να σας γλυτώσει από πολλά περιττά και πιθανώς δαπανηρά μελλοντικά προβλήματα.
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