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Art Law: The Guide for Collectors, Investors, Dealers & Artists (Fifth Edition)

Author(s): Ralph E. Lerner, Judith Bresler, Diana Wierbicki
Practice Area: Arts, entertainment, and sports, Artwork, Museums (Artwork), Ownership (Artwork)
Date: Aug 2020 i Other versions can be found in the Related Items tab.
ISBN: 9781402433863
PLI Item #: 268116

From artists to auction houses, from attorneys to appraisal experts, from dealers to collectors — every segment of the art world has found practical guidance and crucial insights in the previous editions of Art Law. Now thoroughly revised, updated, and expanded, the new Fifth Edition provides more clear, readable coverage than ever before.

Art Law analyzes a remarkable range of topics concerning the legal context of the business of visual art: the artist-dealer relationship; how digital technology and social media affect both commerce in art and the creation of art; tax and estate planning strategies for collectors and artists; new legal challenges for museums; artists’ rights under copyright law and the First Amendment; resources for dealing with art theft and artworks confiscated by the Nazis; the impact of street art; and much more.

The authors, leading experts and pioneers in the field, consider art law “a jungle of law that demands, if not a machete, an accessible guide through the thicket.” Key documents, contracts, forms, and checklists make Art Law an indispensable resource.

RALPH E. LERNER is the co-author of the award-winning treatise, ART LAW: The Guide for Collectors, Investors, Dealers and Artists (First, Second, Third, Fourth, and Fifth Edition), acclaimed as the "industry bible" by Forbes Magazine. He has served as Chairman of the Art Law Committee of the Association of the Bar of the City of New York, Chairman of the Fine Arts Committee of the New York State Bar Association and Chairman of the Visual Arts Division of the American Bar Association Forum on Entertainment and Sports Law.  He has also served on the Board of the New York Volunteer Lawyers for the Arts and as a Fellow of the American College of Trusts and Estates Counsel. Lerner is a nationally-acclaimed speaker and writer on the topic of tax-planning for collectors and artists.  He has extensive experience in dealing with the Internal Revenue Service in the broadest possible manner and numbers among his clients many of the foremost artists, collectors and art dealers in America.

Judith Bresler, was Of Counsel at Withersworldwide and a distinguished lecturer and prominent attorney in the field of art law. She taught Art Law at New York Law School for twenty-five years and also taught as an adjunct faculty member of the University of Pennsylvania Law School. She served as General Counsel to the Appraisers Association of America and as a member of its Advisory Panel. She served on the Board of Trustees of New York Law School and the Philadelphia Volunteer Lawyers for the Arts. She served as Chair of the Art Law Committee and Chair of the Entertainment, Art and Sports Law Section of the New York State Bar Association and published extensively on all aspects of the art market. Drawing on her experiences, she also wrote a screenplay about life in the art world. 

As the head of our global art practice, Diana works with Withers’ attorneys with expertise in various legal areas and located across the US, Europe and Asia to ensure that we have a comprehensive approach to addressing all of our clients’ art needs. She works on a wide range of domestic and cross-border art law matters involving antiquities to contemporary collections. Her practice is focused on transactional art law dealing with all aspects of purchases, sales, loans, consignments and charitable giving of works of art, including tax planning and art finance analysis. She reviews millions of dollars in art transactions and assists clients in navigating the web of legal issues that affect art transactions, such as sales tax, income and wealth transfer taxes, money laundering issues, cultural property concerns, contracted private and auction sale issues, tax audits and charitable planning.

Her clients include the industry’s top collectors, dealers, galleries, charitable organizations, artists, auction houses and museums. In addition, Diana advises high-net-worth individuals and their families on tax, trust and estate planning matters, as well as on commercial transactions associated with that planning. Art is a unique asset, which presents challenging valuation and family relationship issues that Diana is particularly sensitive to when working with clients. Diana also advises art businesses on all aspects of their transactions, operations and global expansion. She assists artists with their legacy planning and gallery representation.

As a forward thinker, Diana represents clients on many groundbreaking developments that are changing the landscape of the art market, including technology and art and the parallels of fashion and art. She is a frequent speaker on a variety of issues affecting the art market. An established media commentator, Diana has been quoted in numerous news outlets, including The New York TimesCNNBloomberg BusinessBBC, as well as having written articles for various publications including ForbesTrusts & Estates, for which she sits on the editorial board, Crain’s, and Wealth Management.

Diana is globally recognized by Chambers as one of the leading lawyers in Art and Cultural Property Law and highly regarded for her advice. One source says "She would be at the top of any list. She has long-standing expertise and contacts within the art world," and adds: "She handles some of the biggest deals for collectors and is highly respected by auction houses and galleries." Another states: "She advises a lot of galleries and is active at high levels. She understands the issues, collectors and the art market."

As a contributor to the art and legal community, Diana serves as Chair of the Appraisers Association of America’s Art Law Day, as Chair of the New York City Bar Association’s Art Law Committee, on the Professional Advisory Council of the Metropolitan Museum of Art, on the Planned Giving Advisory Council of the New York Historical Society and as a member of the ArtTable Circle.