Wednesday, June 12, 2013

Art dealers face new scrutiny

Art dealers face new scrutiny

In Australia, gallery owners may be forced to operate under licence and would be required to use trust accounts under sweeping new art industry changes. These rules are designed to protect artists whose work is held on consignment. Under such arrangements, galleries would be obliged to hold proceeds in a trust account like real estate agents or lawyers are required. Does the US need a similar system?



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