Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

When Charity Begins in the Auction House

September 23, 2011 by Marion Maneker

Some interesting facts from Sarah Douglas’s story on the mechanics of art auctions published in The Art Newspaper:

  • Collectors who donate a work get a tax deduction on its full market value; buyers get one on the difference between the retail value of a piece and what was paid above it.
  • Auctioneers are not obliged to abide by the regulations (and the New York State laws) that govern regular auctions, including following specific bidding increments, so have more sway for drawing out bids.
  • Artists who donate receive a tax deduction only on the cost of materials.
Art Market Analysis: Who Benefits from Art Auctions? (The Art Newspaper)

More from Art Market Monitor

  • Keeping It TogetherKeeping It Together
  • Are Dealers Insurance Scammers?Are Dealers Insurance Scammers?
  • Following the Old Masters HomeFollowing the Old Masters Home
  • Marcato Reveals in 13D It Has Amassed an Equal Stake to Third Point in Sotheby’sMarcato Reveals in 13D It Has Amassed an Equal Stake to Third Point in Sotheby’s
  • An Original ForgeryAn Original Forgery
  • Vernissage TV: AIFAF Palm Beach HighlightsVernissage TV: AIFAF Palm Beach Highlights

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Rare Photo Album by Dutch Street Photographer Bought at Auction by Rijksmuseum
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Sotheby’s Offers Pop-Culture Memorabilia, from Nike to Yeezy, in New Series
  • Christie's Announces $70m Picasso Self Portrait
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Tony Podesta's Secret Art Buying
  • Christie's to Sell $12m Yves Klein to Benefit The Water Academy
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor