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Art In The Shadow Of The Law, Brian L. Frye
Art In The Shadow Of The Law, Brian L. Frye
Law Faculty Popular Media
While precious little law is specific to art, a rich and complex body of social norms and customs effectively governs artworld transactions and informs the resolution of artworld disputes. In any case, a smattering of scholars study art law and a similar number of lawyers practice it. In this essay, I will provide a brief overview of art law from three different perspectives: the artist, the art market, and the art museum.
New Art For The People: Art Funds & Financial Technology, Brian L. Frye
New Art For The People: Art Funds & Financial Technology, Brian L. Frye
Law Faculty Scholarly Articles
Wealthy people have invested in art since time immemorial. But the modem art market emerged only in the late nineteenth century, as private wealth gradually spread to the bourgeoisie. As the art market grew and the most desirable artworks became extremely valuable, individuals and institutions began to form "art funds" to invest in this promising new asset class. In 1904, a group of Parisian art collectors formed La Peau d'Ours, the first private art investment club. Between 1974 and 1980, the British Rail Pension Fund invested £40 million in art. And in the 2000s, many private investment companies created …