Successfully reported this slideshow.

Ralph E Lerner: Auctions.ppt

1

Share

Upcoming SlideShare
What to Upload to SlideShare
What to Upload to SlideShare
Loading in …3
×
1 of 17
1 of 17

Ralph E Lerner: Auctions.ppt

1

Share

Download to read offline

http://www.ralphelerner.com

Ralph E. Lerner is an Art law and individual tax and estate planning specialist at national general practice law firm. Ralph Lerner's experience consists of advising on a great variety of tax matters including all aspects of estate planning and will drafting, estate and gift tax problems, charitable contributions, trust accounting, individual income tax planning, private foundations, and Tax Court proceedings. Ralph Lerner's experience includes extensive dealings with the Internal Revenue Service at all levels. Ralph E. Lerner has specialized knowledge in all aspects of art law including dealing with auction houses, consignment agreements, artist commission agreements, and tax planning for items of tangible personal property.

http://youtu.be/aqDUKnRM8PY

http://www.ralphelerner.com

Ralph E. Lerner is an Art law and individual tax and estate planning specialist at national general practice law firm. Ralph Lerner's experience consists of advising on a great variety of tax matters including all aspects of estate planning and will drafting, estate and gift tax problems, charitable contributions, trust accounting, individual income tax planning, private foundations, and Tax Court proceedings. Ralph Lerner's experience includes extensive dealings with the Internal Revenue Service at all levels. Ralph E. Lerner has specialized knowledge in all aspects of art law including dealing with auction houses, consignment agreements, artist commission agreements, and tax planning for items of tangible personal property.

http://youtu.be/aqDUKnRM8PY

More Related Content

Ralph E Lerner: Auctions.ppt

  1. 1. Auctions by Ralph E. Lerner RalphELerner.com ralph@artworldadvisors.com 590 Madison Ave, New York, NY, 10022 (212) 521-4437 http://www.RalphELerner.com/
  2. 2. *BIDS ARE ALSO MADE BY TELEPHONE Parke-Bernet v. Franklyn Les Baigneurs Roger de la Fresnaye http://www.RalphELerner.com/
  3. 3. Les Baigneurs Roger de la Fresnaye Parke-Bernet v. Franklyn *BIDS ARE ALSO MADE BY TELEPHONE *BIDS ARE ALSO MADE IN WRITING http://www.RalphELerner.com/
  4. 4. Les Baigneurs Roger de la Fresnaye Parke-Bernet v. Franklyn *BIDS ARE ALSO MADE BY TELEPHONE *BIDS ARE ALSO MADE IN WRITING *BIDS ARE ALSO MADE ONLINE http://www.RalphELerner.com/
  5. 5. ONLINE AUCTIONS * OVER 300 ONLINE AUCTION HOUSES WORLDWIDE * e-BAY: OVER 2 MILLION AUCTIONS PER DAY IN MORE THAN 1600 CATEGORIES * ONLINES COLLECT A SELLER’S FEE: -- INSERTION FEE: $2.00 OR LESS; & -- FINAL VALUE FEE: 1 - 5% FINAL PRICE http://www.RalphELerner.com/
  6. 6. * GENERALLY, WITH ONLINE BIDDING: -- BUYER REGISTERS TO BID FOR FREE -- BUYER BIDS MAXIMUM AMOUNT -- EACH AUCTION: 3 TO 10 DAYS -- BUYER NOTIFIED BY E-MAIL -- BUYER SHOULD E-MAIL SELLER WITHIN 3 BUSINESS DAYS -- SELLER FORWARDS ITEM ON RECEIPT OF PAYMENT http://www.RalphELerner.com/
  7. 7. * MOST ONLINES DO NOT VERIFY GOODS * MANY ONLINES DO: -- POST FEEDBACK ABOUT SELLERS -- REMOVE SELLERS WHO GET TOO MUCH NEGATIVE FEEDBACK -- OFFER INSURANCE -- HAVE OR REQUIRE RETURN POLICIES http://www.RalphELerner.com/
  8. 8. SIMULATED PEARL NECKLACE, LOT #454 *ESTIMATES: $500 - $700 *JACQUELINE KENNEDY ONASSIS ESTATE *APRIL 25, 1996 http://www.RalphELerner.com/
  9. 9. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds http://www.RalphELerner.com/
  10. 10. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Claude Monet http://www.RalphELerner.com/
  11. 11. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits Georges Braque http://www.RalphELerner.com /
  12. 12. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits * Obligation to Obtain Best Valid Price -- Buyer’s Premium -- Guaranteed Price http://www.RalphELerner.com/
  13. 13. * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits * Obligation to Obtain Best Valid Price -- Buyer’s Premium -- Guaranteed Price * Safe Custody of the Art CONSIGNOR-AUCTIONEER RELATIONSHIP http://www.RalphELerner.com/
  14. 14. * Assurances of Authenticity AUCTIONEER-BUYER RELATIONSHIP Faberge Enamel Easter Egg http://www.RalphELerner.com/
  15. 15. AUCTIONEER-BUYER RELATIONSHIP * Assurances of Authenticity * Assurances of Title Faberge Enamel Easter Egg http://www.RalphELerner.com/
  16. 16. * Assurances of Authenticity * Assurances of Title * Auction Process Has Integrity -- Loans to Buyers AUCTIONEER-BUYER RELATIONSHIP Vincent Van Gogh “Irises” http://www.RalphELerner.com/
  17. 17. * Assurances of Authenticity * Assurances of Title * Auction Process Has Integrity -- Loans to Buyers AUCTIONEER-BUYER RELATIONSHIP Vincent Van Gogh “Irises” -- Antitrust Investigation http://www.RalphELerner.com/

×