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Navigating Risk in the Contemporary Art Market
Speaker(s): Katherine Wilson-Milne, Phillip Ashley Klein, Steven R. Schindler
Recorded at: Art Southampton 2016

Navigating Risk in the Contemporary Art Market

Experts from Deloitte and Schindler Cohen & Hochman LLP will discuss art market risk factors as they pertain to the purchase, sale or financing of art. Among other things, title, authenticity and attribution risks, in the aftermath of Knoedler will be addressed. They will consider the types of due diligence and documentation typically required by buyers, sellers and lenders.

Talk Details

Attendees will learn:

  • The right questions to ask in considering the purchase, sale or financing of fine art.
  • How to assess risk in the art market.
  • Legal concepts of authenticity and title and their importance in art transactions.
  • Due diligence requirements in buying, selling, or financing art.
  • What contractual protections are advisable in mitigating against art market risks.

Please take note that this session will take place live on July 9th during the 1AN Symposium at Art Southampton.


Speaker Details

Steven R. Schindler

Steve Schindler is a founding partner of Schindler Cohen & Hochman LLP, a litigation and art law boutique located at 100 Wall Street in New York City. Steve heads SCH’s Art Law Group. This practice area, which has grown steadily over the past decade, combines SCH’s formidable litigation expertise with a deep knowledge of the art market and its specific legal issues. Steve regularly advises art galleries, other art related businesses, collectors, artists, and not-for-profit corporation in the art space on transactional matters, such as the sale and acquisition of art and their relationships with dealers, banks and auction houses, and has litigated cases involving the authenticity, title, provenance and appraisals of art. As a trusted advisor, Steve also provides outside general counsel services to art clients.

Steve is on the faculty of NYU’s Steinhardt School where he teaches art law. Steve is also Chair of the Art Law Committee of the New York City Bar Association and is President of the Board of Artists Space, whose mission is to encourage diversity and experimentation in the arts and to provide an exhibition space for new art and artists. Steve often speaks on legal and industry sponsored panels relating to current topics in art law, and is the author of articles on art law including, The “Red Flags” Standard: Rationalizing ACA Galleries, Inc. v. Kinney, International Foundation for Art Research Journal, Vol. 16, No. 4, 2016, Buyer Beware: Is There A Duty To Authenticate Art?, International Foundation For Art Research Journal, Vol. 15 Nos. 3 & 4, 2014; Role of Judges in Authenticating Art in United States and Europe, New York Law Journal, Sept. 15, 2014; Questioning ‘Cariou’ Rationale On Transformative Fair Use, New York Law Journal, Nov. 19, 2014. Steve is also the co-host of The Art Law Podcast,

Katherine Wilson-Milne

Katie Wilson-Milne is a litigator and art lawyer practicing at Schindler, Cohen & Hochman LLP. Katie advises clients in the art, cultural and creative communities, including art galleries, other art businesses, collectors, artists, and not-for-profit organizations in the art space on transactional matters related to the purchase, sale, lending and financing of art, as well as gallery, auction house, and museum relationships. She also represents art clients in disputes involving representation, collaborations, contracts, copyright, authenticity, title, provenance and appraisals. As part of her practice, Katie provides general counsel services and provides a wide range of governance advice to art clients.

Katie also teaches and speaks regularly on art law topics, and is personally involved in the art world through service on nonprofit boards and art affinity groups. She is the Secretary of the Art Law Committee of the New York City Bar Association. She also co-hosts the Art Law Podcast with Steven Schindler.

Phillip Ashley Klein

Phillip Ashley Klein, spearheads Deloitte’s Art & Finance Practice in the U.S. The group’s offerings – which span Deloitte’s consulting, tax, audit and advisory businesses – delivers creative solutions to the individuals and institutions at the crossroads of business, finance and the arts.

Klein helps his clients with their customer and growth strategies, operating model transformation, and work around mergers and acquisitions. He serves the firm’s investment management clients globally, which includes asset and wealth managers, private banks, hedge funds, family offices, as well as art-business ventures.

Most recently, he has helped lead research efforts around “robo-advisor” disruption and art as an asset class, with a concentration in the burgeoning art fund market and growth in art secured lending. Phillip is an alumnus of Morgan Stanley and Citi, and read Management and Finance at Loughborough University in the United Kingdom.

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