This session, presented by David Shapiro, focused on art appraisal as it intersects with the law. We will survey the purposes for which art is appraised (e.g., tax, insurance, collateralized transactions) and discuss how appraisals function in legal conflicts.
Examples were given from cases involving art valuation, including those in which the instructor was involved, such as the 2014 Detroit bankruptcy trial, for which the collection of the Detroit Institute of Arts was valued at over $8 billion, as well as the art fraud case of USA vs. Luke Brugnara, and the insurance case of MunnWorks v. 645 Mac Realty, involving a claim for a large volume of water-damaged prints.
Finally, there was a discussion on notoriety of legal conflict might affect the value of a work of art. On a practical level, this session will provide advice, from an appraiser’s perspective, on how to protect oneself in the art world and minimize the risk of legal problems.
David Shapiro is an art appraiser for Victor Wiener Associates, LLC. He has worked on several legal cases including the appraisal of the collection of the Detroit Institute of Arts in connection with the 2014 Detroit bankruptcy trial as well as the art fraud case of USA vs. Luke Brugnara; he published on the latter in the Journal of Advanced Appraisal Studies (2016).
As founding editor of the contemporary art publication Museo, Shapiro has published interviews with artists including Vanessa Beecroft, Shirin Neshat, and Jeff Wall and has served as an editor of art history textbooks, including Janson’s History of Art. Shapiro has lectured on the contemporary art market at Sotheby’s Institute and has taught art history at Parsons New School for Design, Pratt Institute, FIT, and the Museum of Modern Art.
Presentation by David Shapiro
Q & A
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