INTRODUCTION Contributed by: Fiorella Federica Alvino and Andrea Alberto Belloli, Nunziante Magrone
non-compliance – administrative penalties, criminal liability and reputational damage – are material. The geopolitical backdrop adds further complexity. The imposition of significant trade tariffs by the Unit - ed States – the world’s largest art market by value, accounting for 43% of global sales in 2024 – introduc - es uncertainty into cross-border transactions and may accelerate the reorientation of major sales toward oth - er market centres, including London and Hong Kong. Legal advisers must be alert to the customs, tax and regulatory implications of shifting trade patterns, and to the increasing use by states of cultural property con - trols as instruments of broader foreign and trade policy. Technology and the law: NFTs, AI and new frontiers The digital transformation of the art market has gen - erated a wave of legal questions that existing frame - works are only beginning to address. Non-fungible tokens (NFTs) – unique digital certificates of owner - ship recorded on a blockchain – have matured as a commercial instrument, though the legal landscape surrounding them remains unsettled. In most jurisdic - tions, existing copyright law does not automatically transfer to the purchaser of an NFT: the buyer acquires the token, but not necessarily the underlying intellec - tual property rights. The full entry into force of MiCA in December 2024 has brought NFT marketplaces and related digital asset service providers within an EU regulatory parameter for the first time, with significant implications for platform operators and their clients. Artificial intelligence presents a deeper structural chal - lenge. As AI systems become capable of generating works that are commercially indistinguishable from human creations, fundamental questions arise about authorship, originality and the scope of copyright pro - tection. In January 2025, the United States Copyright Office published the second part of its comprehensive AI copyright report, reaffirming that purely AI-generat - ed works do not qualify for copyright protection under US law, while acknowledging that AI-assisted works incorporating substantial human creative contribution may do so. European law is evolving in parallel: the EU Artificial Intelligence Act, which entered into force in August 2024, imposes transparency obligations on AI systems used in creative contexts, though its full implications for the art market remain to be worked
out. Jurisdictions outside the US and EU are taking divergent approaches, creating a fragmented global landscape that demands careful, jurisdiction-specific legal analysis. Succession, philanthropy and the long view For collectors and their advisers, the legal dimen - sions of art ownership extend well beyond the point of acquisition. The management of a collection over time – encompassing insurance, conservation, lend - ing, valuation and ultimate disposition – raises complex questions about private law and taxation. Succession planning for significant collections requires careful navi - gation of inheritance regimes, forced heirship rules, gift and estate taxes and, where cultural heritage designa - tions apply, additional regulatory constraints. Trusts, foundations and charitable structures offer useful planning vehicles in many jurisdictions, but their tax treatment varies considerably and their interaction with cultural property rules requires case-by-case analysis. The generational transfer of artworks is a growing area of practice as the significant collections assembled in the late 20th and early 21st centuries pass to succes - sive generations. Whether through testamentary dispo - sition, lifetime gift, institutional donation or structured philanthropy, the legal and fiscal frameworks governing this transition differ substantially across the jurisdic - tions covered in this guide and must be assessed with specialist advice in each relevant market. Conclusion: law at the intersection of culture and commerce The legal issues surveyed in this guide are as diverse as the artworks they concern. What unites them is the growing complexity of the environment in which art is created, bought, sold, inherited and protected – an environment shaped by market recalibration, regulato - ry expansion, technological disruption and heightened ethical expectations. The art lawyer’s role has evolved accordingly: from transaction facilitator to strategic adviser, compliance officer and, in restitution matters, a participant in broader questions of historical justice. This guide aims to equip practitioners, collectors, institutions and businesses with the jurisdiction-spe - cific knowledge they need to navigate that environ - ment with confidence and precision.
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