Arguably, the legal issue causing most concern in the art world at the moment is the introduction of the Fifth Anti-Money Laundering Directive (5 AMLD), which is expected to be implemented into UK law by the 10th January 2020, regardless of Brexit. The art market is perceived as an easy target for criminals wishing to purchase art as a means of laundering the proceeds of crime. This directive applies to dealers, auction houses and other...
With international dealing, online sales, complex restitution cases and issues of provenance shaking up the art market, a collector may require a good lawyer more than ever. Anetha from Arts & Collections talks to LALIVE’s art law and private client specialists to unearth the legal issues affecting the art market. Anetha at Arts & Collections: What do you believe are the main legal challenges affecting the art world at the moment? Sandrine Giroud, Art Lawyer...
An extremely rare medieval chess piece, one of the five missing Lewis Chessmen, has been sold at a Sotheby’s auction to an anonymous buyer for £735,000. The 900 year-old Lewis Chessmen hoard was discovered on the Isle of Lewis in 1831 and includes some 93 pieces, most of which are now to be found in the British Museum. The newly re-discovered piece, found in a drawer in an Edinburgh home, is a warder (the medieval...
An extremely valuable medieval chess piece, one of the five missing Lewis Chessmen, has recently been discovered in a drawer by a family in Edinburgh. The 900 year-old Lewis Chessmen hoard was discovered on the Isle of Lewis in 1831 and includes some 93 pieces, most of which are now to be found in the British Museum. The newly re-discovered piece is a warder (the medieval equivalent of a rook) in the form of an...
The lure of gold is legendary, but are we fooling ourselves if we treat it as a sensible choice for the modern investor? It pays to understand why for hundreds of years it was the foundation of all wealth, and why it’s perhaps a different type of investment today. The use of gold in the form of coins probably dates back to Egypt in 500BC, at a time when the intrinsic value of the metal had long been established through its use in jewellery. The History...
While investment in stocks, shares and bonds remains an uncertain option, alternative investments, such as art, cars, coins and stamps, have become increasingly attractive. The rate of return can be spectacular, and this is true nowhere more than in the world of wine bottles. Between 2012 and 2017, for instance, the Petit Mouton 2011 vintage appreciated from £690 per case to £1,831, an increase of 165 percent. Last year, two of just 600 surviving bottles...
When David Swensen’s Yale Model—a model that invests heavily in alternative or non-liquid investments—was first revealed in 2000[1], it caused quite a stir in institutional investment. In the first 20 years of his tenure (1985-2005) as Yale’s endowment manager, Swensen managed to top the S&P 500’s 12.3 percent annualised return by a further 3.8 percent, breezing through stock market downturns that decimated other institutions. Mainstreaming Alternative Investment Instruments Many of Swensen’s contemporaries, and more than...
New York, yes, Paris, maybe, but you wouldn’t think the tiny Welsh town of Blaenau Ffestiniog likely to be the centre of a million-pound art investment fraud. In fact the Insolvency Service, a government agency connected to the Department for Business, Energy & Industrial Strategy, has wound up two fraudulent art investment schemes, one in Blaenau Ffestiniog, the other in Birmingham. Between them they appear to have abused at least £1.4m of investors’ money. Halifax...
For more than 10 years, MODALO has produced exclusive, handcrafted Watch Winders, Watch Boxes and Watch Storage Solutions using superior materials and components with focus on producing the highest quality of workmanship. Innovative solutions, outstanding design and durable components guarantee the best possible safekeeping for valuable timepieces. MODALO was founded in 2006 and is headquartered in Hamburg, Germany. The brand manufacturing in its own production facilities, every single product is examined individually and composed with...
The London Classic Car Show, taking place at ExCel from February 14th-17th, features a Classic Car Investment Forum hosted by Tiff Needell in the Supagard Theatre. Chaired by motoring journalist and presenter Quentin Willson, the Classic Car Investment Forum will bring together a panel of experts from a variety of firms that advise on classic cars, from lawyers and restorers to a finance house, accountancy practice and auction company. They will discuss the stabilisation of...
