Closed Captioned.

This program tracks the legal issues that will or have already arisen from the hard-economic impact of COVID-19 on the art market. The webinar is presented by the Arts & Museum Division, as well as the International Division, of the Forum on the Entertainment and Sports Industries. Like consignments, the first topic in the Art Law 101 series, this webinar details the complex legal issues arising from sales transactions in the art industry. From fine art to antiques, sales in the art world are nuanced and require a thorough understanding of not only the art market, but of the various legal consequences which stem from these transactions. The webinar similarly discusses contracts related to the sale of art, including contracts related to exhibitions, art fairs, and other special events. Given the vast cancellation of art fairs, exhibitions, and other related events, this webinar necessarily examines the various contractual doctrines implicated by COVID-related cancellations. Additionally, as online art acquisitions become the "new normal," there is a higher risk of forgeries and fakes, especially as potential buyers and their agents cannot examine the actual artworks or provenance documents in person. The webinar also addresses how the movement to online sales will require attorneys to rethink how to advise clients on copyright issues and ultimately how to address issues as they arise.