The Law (in Plain English) for Collectors: A Guide for Lovers of Art and Antiques

by Leonard D. DuBoff, Sarah J. Tugman

Overview

“Savvy art collectors who want to protect themselves and their investments would be wise to read The Law (in Plain English)® for Collectors. The book provides valuable guidance that collectors of all levels can rely on.” —Dale Chihuly

In The Law (in Plain English)® for Collectors, Leonard DuBoff and Sarah Tugman provide helpful advice on all things legal when it comes to art, antiques, and other collectibles. Whether readers are into coins or Queen Anne furniture, paintings or vintage books, this guide contains useful and practical information readers need to know to protect and enjoy their collections. Among other important concerns, readers will learn how to:

• Navigate purchases and customs
• Select insurance plans
• Properly file taxes
• Loan out pieces to galleries, museums, and shows
• Bestow work to future generations

For private collectors, gallerists, artists, and others interested in art dealings, The Law (in Plain English)® for Collectors is an indispensable reference.

Product Details

ISBN-13:	9781621536680
Publisher:	Allworth
Publication date:	11/20/2018
Series:	In Plain English
Pages:	240
Product dimensions:	5.90(w) x 8.90(h) x 0.80(d)
Age Range:	18 Years

About the Author

Leonard D. DuBoff is the founder of the DuBoff Law Group, PC. He graduated magna cum laude from Hofstra University with a degree in engineering and summa cum laude from Brooklyn Law School, where he was the research editor of the Brooklyn Law Review. He was a professor of law for almost a quarter of a century, teaching first at Stanford Law School and then at Lewis & Clark Law School in Portland, Oregon. He lives in Portland, Oregon.

Sarah J. Tugman graduated from Mount Holyoke College in South Hadley, Massachusetts, and magna cum laude from Lewis & Clark Law School in Portland, Oregon. She has maintained a private civil practice for the past thirty-three years in Anchorage, Alaska, and she is of counsel to the DuBoff Law Group. She is the coauthor, with Leonard D. DuBoff, of several books in the Law (in Plain English)® series. She lives in Lincoln City, Oregon.

Table of Contents

Preface xiii

Acknowledgments xv

Introduction xvii

Part I Acquisition and Protection

Chapter 1 Getting Started 3

Researching 3

Locating 5

Helpful Precautions 7

Chapter 2 Purchasing and Reselling Your Collectibles 11

Dealers 11

Purchases from Artists and Craftspeople 14

Auctions 14

Auction Basics 17

Auction Tactics 22

General Restrictions 24

Chapter 3 Due Diligence on Purchase and/or Sale 25

Stolen Goods 25

Warranties 27

Chapter 4 Authenticating the Work 35

Forgeries 35

Protections 36

Expert Evaluation 38

Multiples Legislation 42

Certification Marks 44

Conclusion 44

Chapter 5 Inventory and Insurance 47

Inventory 47

Insurance 47

Chapter 6 Protection from Theft 57

Anonymity 57

Alarm Systems 57

Exterior Considerations 58

Identifying Your Property 59

Victim of Burglary 60

Chapter 7 Investments 63

Collectors 63

Investment Potential 64

Investment Considerations and Sources of Information 66

Financing Investments 68

Chapter 8 Conservation and Restoration 71

Suggested Methods of Display 71

Signs of Deterioration 73

Professional Conservators 73

Conservation and Restoration Techniques 74

Part II Specific Legal Issues

Chapter 9 Copyright 81

Copyright Act of 1976 as Amended 81

Copyright Protection 83

Registration 83

Copyright Notice 84

Copyright Owner 84

Work for Hire 85

Transferring Copyright 85

Duration of Copyright 86

Public Domain 87

Copyright Infringement and Remedies 88

Fair Use 90

Conclusion 91

Chapter 10 When Rights Collide 93

Moral Rights 93

General Concepts of Artists' Rights 96

Resale Royalties 98

Chapter 11 Tax Considerations 101

Income Tax 101

Capital Gains 102

Deductions 102

Losses 104

Charitable Contributions 105

Gift and Estate Considerations 107

Chapter 12 Import and Export 113

Customs Duties 113

Duty-Free Entry for Art 114

Functional Works, Such As Crafts, Toys, and Other Collectibles 115

Exemptions from Duty for Antiquities and Certain Collectors' Items 116

Effect of Free Trade Agreements 117

Export Restrictions 117

Import Restrictions 118

Endangered and Other Protected Species 120

Chapter 13 When Your Artwork Is Hold by Others 121

Bailment 121

Bailments for Mutual Benefit 121

Lending 123

Chapter 14 The Collector's Estate 127

The Will 127

Intestate Distributions 130

Distributions to a Spouse Left Out of the Will 130

Distributing Properly Outside the Will 131

Estate Taxes 134

Professional Estate Planning 138

Chapter 15 Finding a Lawyer and an Accountant 139

Finding a Lawyer 140

Evaluating a Lawyer 141

Using a Lawyer 141

Finding an Accountant 142

Appendix A List of Organizations 145

Appendix B List of Publications 151

Appendix C Selected Laws Governing Artists and Dealers 157

Appendix D Other Resources 177

Glossary 181

About the Authors 201

Index 203

Editorial Reviews

The Law (in Plain English)® for Collectors is an excellent guide. I suspect most people—not just collectors—would find the chapter ‘The Collector’s Estate’ interesting and helpful.” —Antique Trader

“Savvy art collectors who want to protect themselves and their investments would be wise to read The Law (in Plain English)® for Collectors. The book provides valuable guidance that collectors of all levels can rely on.” —Dale Chihuly, artist

“To keep your collecting fun and protect yourself when purchasing or selling, you need the invaluable legal information contained in this book.” —Stanley Wanlass, president, Renaissance International, Inc.

“As one of the largest collectors of post WWII prints and multiples of American artists, I have found The Law (in Plain English)® for Collectors to be immensely helpful. Anyone interested in collecting and anyone who has a collection of art or anything collectible should know the legal rules about their collections.” —Jordan Schnitzer, collector

“Savvy art collectors who want to protect themselves and their investments would be wise to read The Law (in Plain English)® for Collectors. The book provides valuable guidance that collectors of all levels can rely on.” —Dale Chihuly, artist
“To keep your collecting fun and protect yourself when purchasing or selling, you need the invaluable legal information contained in this book.” —Stanley Wanlass, president, Renaissance International, Inc.
“As one of the largest collectors of post WWII prints and multiples of American artists, I have found The Law (in Plain English)® for Collectors to be immensely helpful. Anyone interested in collecting and anyone who has a collection of art or anything collectible should know the legal rules about their collections.” —Jordan Schnitzer

From the Publisher