Saturday, October 20, 2012

Changes to the New York Consignment Statute

Recent posts by Sergio Muñoz Sarmiento and ARTINFO's Rachel Corbett remind me that I've been negligent in not mentioning the important changes to the New York consignment statute.  You can see the changes here.  The New York City Bar Association Art Law Committee has some good background here, and Nicholas O'Donnell has an excellent summary here.  To my mind, the most significant change is the provision allowing the artist to recover his legal fees if his lawsuit is successful.  That will have huge practical effects.