Art Law Part 1: From Eagles to Ivory, The Art of Lost Value

How should an estate value an item that has been banned from trade or sale? This article will examine how the Estate of Ileana Sonnabend handled the question of appraising Robert Rauschenberg's "Canyon", banned from trade or sale because of its inclusion of a taxidermied bald eagle and the Art Advisory Panel's response. Now, the US Fish and Wildlife Service has proposed a ban on the sale or trade of ivory in an effort to protect endangered elephants. This article will further examine how the ivory ban has the potential to effect many more individuals and estates.

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