Kenny Schachter read about Richard Prince’s renunciation of the New Portrait work he did for Ivanka Trump. It raised some alarm for the collector dealer about the ramifications for the art market if living artists can arbitrarily de-authentic works owned by others at whim.
The post has been very popular with art lawyers. Here’s what Kenny wrote:
The repercussions to the market if artists had the right to impugn the authenticity of their works after the fact would turn the art economy topsy-turvy, destabilizing what many already judge to be a thinly traded, tenuous ecosystem to begin with. The whole enterprise cannot be pegged to the capriciousness of artists, fickle at best: the laissez-faire markets with their (quasi) built-in checks and balances would lose confidence in art. And Richard would be robbed of his private-plane-fueled, St. Barts lifestyle; that, I am sure, he can appreciate. And besides, you don’t kill the (market) animal to remove a splinter from its foot.
Judd Grossman, one of the aforementioned art lawyers, had some thoughts on the limits of Prince’s VARA rights:Continue Reading