Case Studies
Negotiation of Art Consignment Agreement
Tannenbaum Helpern's attorneys represented a client who consigned several hundred works of art worth approximately $100 million to a major auction house for sale at auctions around the world. In addition to negotiating the complicated business terms related to the consignment and sale, including a very significant guarantee and advance, the transaction was complicated by a bank lien on certain works and a related payoff mechanism. Tannenbaum Helpern's corporate attorneys successfully negotiated with both the auction house and the bank so that the works of art could be transported in time for auction.