High Value and Luxury Assets
Request a callback
Not only are beautiful works of art wonderful to look at, enhancing your residence and providing an excellent conversation opener, they also serve as solid investments and an excellent way to diversify / expand your existing investment portfolio.
Having the necessary knowledge and intuition to purchase pieces from up and coming artists as well as more mature contemporary and classical works offers a shrewd investor the opportunity to make strong returns with often minimal outlay.
Fact: Although classical pieces can sell for millions of pounds, contemporary and modern art from 1875 onwards currently makes up nearly 70% of the global art trade.
At Saracens Solicitors, we have the expertise to manage the legalities of any sale or purchase. We will advise you as to the best avenues for buying or selling different works as well as conducting correct due diligence to establish the authentication of the artist and the originality of the artwork.
Buying and selling art at auction houses such as Christie’s, Sotheby’s, Phillips and Bonham’s requires experience and acumen during the auction process, as well as solid legal due diligence performed by competent, knowledgeable lawyers. This must all be undertaken before auction day to ensure any significant financial outlay is spent on an original and genuine artwork.
We can assist you at the pre-auction stage when buying art by examining the catalogue and advising you on the research you will need to conduct before the auction begins to protect your interests.
If you are selling at auction, our commercial team will advise you on the listing information you will need to provide and guide you through your legal obligations after a successful sale has been made. As you liaise with auction houses and / or private dealers, you will need to consider:
With Saracens you can rest assured that all factors needing consideration will be covered. We are also experienced in managing cases where works of art are wrongly described or grossly undersold by an auctioneer, and can therefore assist you in perusing a claim for the tort of negligence or breach of contract, against the auction house in question.
As with most high value assets, a prudent buyer should seek advice and consider the various ownership structures before purchasing the asset in order to minimise liability generally and in respect of tax.
If you choose to buy or sell works of art privately, or through an art dealer, we can assist with the contractual legalities of the sale and purchase as well as the due diligence to ensure authenticity of the work.
As the name suggests, fine art funds are privately offered investment funds which generate returns through the purchasing and selling of fine art. Although these funds are still in their relative infancy, with sound legal advice and due diligence checks our solicitors can provide the necessary comfort to protect your legal position.
If you would like further information regarding the law surrounding the sale and purchase of fine art – please phone our London office on +44 (0) 20 3588 3500 to speak directly to one of our solicitors, or request a call back and we will contact you.
We instructed Saracens’ litigation team in a sensitive matter in the hope that it would be…
Bob Paxman Chief Executive Talking2Minds
See All Testimonals
STUCK BETWEEN A YACHT AND A HARD PLACE? Navigating the risks of buying a yacht Cruising around the South of France for weeks basking in the glorious Mediterranean sunshine, sailing past Cannes and Monte Carlo in a beautiful yacht nestled on the azure waters while the gentle waves rock you slowly into a deep sleep. Sounds like a dream but taking it beyond the realms of your imagination is easier than you think. Saracens offers straightforward advice on what to do when buying a yacht.Read more
Selling a yacht may seem like a daunting prospect…. Setting a price, marketing, advertising, broker terms and commission, contractual issues…etc all very complex and generally quite time consuming. Because we understand this sector better than most, to help you understand some of the basics, we have put together this easy to follow step by step free boat sellers guide to highlight some of the issues you need to weary of. Step 1 –Engage the Right Professionals When selling a yacht it is imperative that you enlist the right professionals to manage the transaction, including a lawyer who has experience dealing with this type of work. This applies to the purchaser […]Read more
For budding entrepreneurs there has never been a better time in history to start your own internet business. The miracle of the internet allows those with the necessary courage, work-ethic and gumption, to set up shop without the crippling costs of finding, stocking and financing a physical premises. But the online revolution has offered start-up businesses much more than just removing the need for expensive premises. Some of the many advantages of owning and operating an internet based business include: Low start up costs. Depending on the type of online business you plan to operate, initial costs can start from as little as a few hundred pounds (the cost of […]Read more