Kleine Weltin
Sunday, January 17, 2016
Monday, January 11, 2016
ART intersects MUSIC-
One of my very favorite musicians- David Bowie's (so cool that he has one brown one blue eye!) song that was directed by artist Tony Oursler. I am currently appraising a Oursler video similar to this one for a client. RIP ZIGGY! http://www.theguardian.com/…/david-bowie-where-are-we-now-v…
Friday, January 1, 2016
Saturday, April 11, 2015
Lawyer vs. Artist- Lawyer wins again
When it comes to making money off of an artist's artworks- who wins???
Claudia Worthington Hess writes:
The billionaire and his lawyers. Why? As an appraiser, one way of valuing personal property, is called the Cash Marketable Method. In other words, measure how much income an artwork can generate from licensing, or products like T-Shirts, posters etc. One problem!
Most artists will only make ONE of the work with no intention of turning that artwork into a cash generating machine. That's why this billionaire got off the hook. The artist could not prove he would earn money from his unique work, that this billionaire got knock-offs made of, in China. The court ruled that this billionaire only has to destroy the knocked-off works.
I see people talking pictures ALL the time at Art Fairs- some with very bad intentions of turning the pictures into copycat art works made in China.
Artists! Learn how to protect yourself, and know that if you send a proposal to have one of your works used in a development, that if they don't use your work, and have a copy made instead, in China; you are OUT OF LUCK. Hire a lawyer to see if this can be avoided.
https://news.artnet.com/art-world/billionaire-igor-olenicoff-guilty-making-knock-offs-famous-artworks-will-pay-zero-285373
They know EXACTLY what they are doing and how to get away with it.
Claudia Worthington Hess writes:
The billionaire and his lawyers. Why? As an appraiser, one way of valuing personal property, is called the Cash Marketable Method. In other words, measure how much income an artwork can generate from licensing, or products like T-Shirts, posters etc. One problem!
Most artists will only make ONE of the work with no intention of turning that artwork into a cash generating machine. That's why this billionaire got off the hook. The artist could not prove he would earn money from his unique work, that this billionaire got knock-offs made of, in China. The court ruled that this billionaire only has to destroy the knocked-off works.
I see people talking pictures ALL the time at Art Fairs- some with very bad intentions of turning the pictures into copycat art works made in China.
Artists! Learn how to protect yourself, and know that if you send a proposal to have one of your works used in a development, that if they don't use your work, and have a copy made instead, in China; you are OUT OF LUCK. Hire a lawyer to see if this can be avoided.
Billionaire Igor Olenicoff, Guilty of Making Knockoffs of Famous Artworks, Will Pay Zero
https://news.artnet.com/art-world/billionaire-igor-olenicoff-guilty-making-knock-offs-famous-artworks-will-pay-zero-285373
They know EXACTLY what they are doing and how to get away with it.
www.hessARTadvisory.com
Tuesday, March 31, 2015
Dogs playing Poker
Dogs playing Poker? or a Human playing poker with a dog print?
Florida Woman finds rare lithograph at Goodwill- It's rare but it CAN happen.
Friday, February 20, 2015
Art Heals!!! Duh!
Nature, ART, music--- heal thyself Naturally!!!!
www.hessARTadvisory.com
http://newscenter.berkeley.edu/2015/02/02/anti-inflammatory/
www.hessARTadvisory.com
http://newscenter.berkeley.edu/2015/02/02/anti-inflammatory/
Monday, February 2, 2015
Can you treat ART as you do Real Estate for tax purposes?
Art Industry News
February 1, 2015 - With 1031 exchanges, art investors avoid taxes
THE WALL STREET JOURNAL - Industry experts suggest that a federal capital-gains tax deferral, known as 1031 IRC like-kind exchanges, commonly used for real estate investment is increasingly used for art assets. To pass IRS scrutiny and obtain the tax benefit, taxpayers must meet certain requirements including hold their art as an investment, sell and purchase new "like kind" art of equal or greater value within 180 days and use a qualified exchanger to manage the swap.
THE WALL STREET JOURNAL - Industry experts suggest that a federal capital-gains tax deferral, known as 1031 IRC like-kind exchanges, commonly used for real estate investment is increasingly used for art assets. To pass IRS scrutiny and obtain the tax benefit, taxpayers must meet certain requirements including hold their art as an investment, sell and purchase new "like kind" art of equal or greater value within 180 days and use a qualified exchanger to manage the swap.
The IRS requires art appraisals to be conducted by a QUALIFIED ART APPRAISER.
www.hessART advisory.com
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