Tax Break Used by Investors in Flipping Art Faces Scrutiny (Like-kind exchanges)
Like-kind exchanges (or 1031) has been used in the real estate market for decades and more recently in the art market. Basically, these exchanges allow the ‘investor’ to delay paying the 28% capital gains tax on art, stamps, collectibles, etc. … More…
‘Richard Estes: Painting New York City’ at the Museum of Arts and Design
This is the first retrospective for one of the masters of Photorealism in a New York museum. The exhibit features 40 paintings and works on paper dating from the late 1960s through 2014 and is on view until September 20 … so … More…
Auctionata continues massive staff cuts
Following up on a post from this past Tuesday regarding online art sales… It looks like it’s not all sunshine and rainbows. Auctionata, an online auction platform, just cut 30 of their 60 employees in New York! Let’s not forget just … More…
Painting of the Day (AVAILABLE): Edouard Cortes’ “Place Pigalle”
Place Pigalle. Here is a classic Edouard Cortes (1882-1969) that we just added to our available online inventory. Place Pigalle is a public square in the 9th arrondissement of Paris and became a haven for artist’s studios at the end … More…