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The Chubb Insurance Group has responded with coverage that reimburses legal fees up to $100,000 incurred in a title dispute for scheduled works of art (except in New York). Unfortunately, this benefit does not extend to the actual value of the work if the owner is required by the courts to forfeit the piece. Courts in the U.S. will generally "balance the equities," meaning that the due diligence the buyer performed to avoid possession of stolen art will be measured against the steps the former owner made to recover the art. Nonetheless, the burden of discovery will usually weigh more heavily on the purchaser, who, it is assumed, has the sophistication and resources to authenticate the history of a purchase.
In a report in support of the proposed legislation, the Art Law Committee of the New York City Bar Association recently stated that art authenticators have been forced to “practice their profession at their own risk. They have been sued in the course of rending opinions in good faith about the authenticity, attribution or authorship of artworks. . . . Although usually, under the law, experts have prevailed, the costs of vindication have been too great: thousands of hours and dollars spent on legal defense rather than on the practice of their profession.”8
Meyer’s amended complaint, which can be found here, names as defendants the Board of Regents of the University of Oklahoma; David Boren, the University’s President, who is named in both his individual capacity and his capacity as President of the University; the University of Oklahoma Foundation; several New York art galleries and related entities; and the American Alliance of Museums and the Association of Art Museum Directors.
The simmering dispute over one of the prized works of looted Holocaust-era art, Wassily Kandinsky Wassily Kandinsky 's "Improvisation Number 10," now estimated at over $30 million in value, has suddenly reached a boiling point. A colorful canvas painted in 1910 by the artist who many believe invented abstraction, the work is considered an early and seminal example of modernist art. Negotiations over its ownership broke down last week when its current Swiss owner definitively chose to keep it after almost a decade of negotiation. That has led to a lawsuit being filed in Swiss courts by the plaintiff, Jen Lissitsky Jen Lissitsky , who is the descendant of the painting's pre-Nazi owners.
In a lengthy opinion issued earlier this week, Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York ruled that the Metropolitan Museum of Art may keep a noteworthy Picasso artwork, even though its German-Jewish former owners sold it for a fraction of its actual value to finance their safe passage out of fascist Italy.
Look for inspiration in poems or quotes. Using parts of your favorite poem or quote can be an interesting and suitable title for your artwork. Similarly, you could choose a passage from a book. These should not, however, be too lengthy. Choose something that is a short phrase. Also, choose something that adds to the artwork’s meaning, not something completely random that doesn’t mean anything.