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The Art Transaction: Buying and Selling in Global Markets

This course will trace the processes and requirements that are elemental to art transactions for both private and public sales. It will cover the necessary documents, standard contracts, and legal concerns involved in successful transactions. Learn about due diligence procedures, including authenticity and provenance checks, import/exporting requirements, artist resale rights, title issues, art loss and restitution, and cultural patrimony and UNESCO restrictions, all of which create parameters around art transactions. The course also will address the specific variables at play in different geographical regions, including Europe, Asia, North America, and Latin America, as well as the regulatory taxes, levies, and associated costs and professional fees.

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You'll Walk Away with

  • Knowledge of the roles and responsibilities of different art professionals in art transactions, as well as the best practices and ethics associated with each role
  • The ability to navigate the various legal, regulatory, and governmental requirements associated with complex transactions in their rapidly changing geographies
  • Familiarity with a variety of resources—including specialized professionals—to complete successful and legal international art transactions
  • An understanding of the proper documentation for artwork regarding clear title, provenance, ownership, and authenticity
  • The ability to assess and understand the presence of warranties and guarantees associated with certain art transactions, and knowledge of how to navigate their limitations and/or absences
  • The skills to build a conceptual art collection using data, budgets, and client requests
NO open sections available for this course at the moment. Please check back next semester.