Every week, Artnet News brings you The Gray Market. The column decodes important stories from the previous week—and offers unparalleled insight into the inner workings of the art industry in the ...

Contrary to what you might think, art collectors can’t claim huge tax deductions for donating artworks based on their own valuations. The bequest and donation of artworks generate millions in tax ...

When any asset is transferred by gift or through the settlement of an estate, whether the gift is to charity or to an individual, whether it is made directly or through a Trust, you must report the ...

Exaggerated estimates of the value of donated artwork have cost the U.S. government “untold millions” of dollars from tax write-offs, reports the Los Angeles Times. Every year, donors take $1-billion ...

Modern appraisals are going through a mid-life crisis. They aren’t quite the delicate, subjective art form that they used to be, and technology is now a must-have for appraisers. The appraisal ...

A New York City man who unwittingly sold fake art prints he believed were by British artist Damien Hirst has pleaded guilty to forging appraisal documents. / Source: The Associated Press A New York ...