NEW YORK: New York City collects sales tax on even the smallest items, but it probably won’t collect a cent in taxes on a nearly half-billion dollar painting by Leonardo da Vinci.
The Italian Renaissance artist’s “Salvator Mundi” sold for $450 million (SR1.68 billion) during a record-breaking auction at Christie’s last month to a buyer reported to be a Saudi prince. But unless he decides to hang the work in a Manhattan pied-a-terre, or ships it using the wrong type of carrier, the city won’t get any taxes.
That’s because the state’s laws are structured so that out-of-town buyers generally don’t get hit with big tax bills. If they did, New York’s status as a global center for art sales might be jeopardized, an expert said.
Christie’s declined to identify the buyer of the 500-year-old painting but media reports point to the Saudi royal family. Whoever the owner is, the painting appears headed at least temporarily to the newly opened branch of the Louvre museum in Abu Dhabi, the museum announced Wednesday.
The identity of the owner and ultimate destination of the artwork plays a big role in whether the sale is taxed.
If the painting of Christ raising a hand in blessing had been bought by someone who planned to keep it in New York, the buyer would be on the hook to pay an 8.875 percent city and local sales taxes, which on a $450 million purchase would amount to around $39 million said Jason Kleinman, a lawyer who advises art collectors on the tax consequences of their purchases. That probably won’t happen if the painting is shipped to the Middle East.
“We’re not supposed to tax the Saudi guy if he takes the painting outside the US,” Kleinman said. “The caveat is that New York has very particular rules about how a painting needs to be shipped out of the city. If those rules are not abided by, there will be some inadvertent sales tax.”
The painting’s buyer could be forced to pay the tax if he hired a specialized fine-art shipper to deliver the painting to him in Saudi Arabia or Abu Dhabi. New York state authorities say purchases by out-of-state buyers who use specialized art shippers as opposed to common freight carriers like UPS or FedEx are subject to sales tax.
Christie’s advises buyers on its website that it must collect tax on items collected by certain carriers. It also notes that buyers shipping artworks to 10 other US states also would be on the hook for sales taxes.
New York has socked art houses in the past for failing to collect sales tax.
New York Attorney General Eric Schneiderman reached a $4.28 million settlement last year with New York’s Gagosian Gallery over unpaid taxes on art sales. As part of that settlement, the gallery created its own shipping division so it could legally avoid incurring tax liability.
“We will continue to remain vigilant in order to ensure that art dealers and collectors fully abide by the state’s tax laws,” Schneiderman said at the time.
Schneiderman’s office had no comment on the sale of “Salvator Mundi,” Latin for “Savior of the World.”
New York City not likely to tax $450 million art sale
New York City not likely to tax $450 million art sale
The Weeknd donates $2 million for humanitarian aid in Gaza
DUBAI: Canadian singer The Weeknd has pledged to donate another $2 million to help feed families in Gaza, the United Nations’s World Food Programme reported.
The donation comes from the star’s XO Humanitarian Fund, which helps combat global hunger.
“This support will provide over 1,500 metric tons of fortified wheat flour, which can make over 18 million loaves of bread that can help feed more than 157,000 Palestinians for one month,” said WFP.
In December, the multi-platinum global recording artist, whose given name is Abel Tesfaye, donated $2.5 million to WFP from the fund, which he established in partnership with World Food Program USA. That equated to 4 million emergency meals, funding 820 tons of food parcels that could feed more than 173,000 Palestinians for two weeks.
Tesfaye, who was appointed a Goodwill Ambassador in October 2021, is an active supporter of WFP’s global hunger-relief mission. He, his partners and his fans have raised $6.5 million to date for the XO fund.
In total he has directed $4.5 million toward operations in Gaza and has sent $2 million to support WFP’s emergency food assistance for women and children in Ethiopia.
DJ Peggy Gou makes waves in the Middle East, eyes collaborations with Arab artists
ABU DHABI: South Korean DJ and singer Peggy Gou is no stranger to the Middle East. She wowed fans this week at the Louvre Abu Dhabi in the UAE, performing in celebration of the newly opened exhibition “From Kalila wa Dimna to La Fontaine: Travelling through Fables,” and revealed that she would consider collaborating with Arab artists.
She told Arab News the morning after the event: “I woke up this morning and was thinking what happened last night. It is one of those events that is so meaningful. I’ve been to Abu Dhabi twice just to see the exhibitions. It’s more than a museum to me. It is a community, where people even go to hang out. That’s how beautiful that place is.”
Gou was among the first performers to take the stage at the Louvre Abu Dhabi in front of an audience, she said.
“I know David Guetta did it once before without an audience during COVID-19 … It was my first time playing in Abu Dhabi. It was insane. It was a very, very special night, and I want to do more,” she added.
Gou incorporates Arab-inspired music into her performances, noting that “people just love it, and they love percussion.”
To the artist, music is like a feeling. “It is really hard to rationalize it,” she said. “When you love it, you just love it,” she added, expressing her admiration for Arab melodies.
“This is maybe the reason why people support my music, even though they don’t understand the language. Sometimes they just feel it, they just love it,” she explained.
“I love our music, but at the same time, I’m considering collaborating with an Arab artist because there are a lot of talented Arab musicians here,” she said. “I have many friends here who recommended me some artists, and I want to check it out.
“I never say no. I love making music with different languages.”
Gou has performed in Saudi Arabia multiple times.
“Every time I go there, it’s different. But what I can say is it’s always changing in a good way. In the very beginning, I felt like they weren’t going to understand my music,” she recalled.
But the DJ said that her last performance in AlUla was one of her favorites. “People were just shouting, screaming, and dancing as if there was no tomorrow,” she said.
Saudi students explore intersection of science and art
- Exhibition organized by the Saudi Arabian Society for Culture and Arts runs until May 2
JEDDAH: The Saudi Arabian Society for Culture and Arts has launched an exhibition in Jeddah showcasing 25 artworks exploring the link between science and art.
The second annual exhibition organized by the arts society, in collaboration with the Biology Club at King Abdulaziz University, was opened in the presence of Mohammed Al-Subaih, director-general of the organization, Mona Al-Harbi, vice dean of the college of science, local artists, and parents.
HIGHLIGHTS
• The Sci-Art exhibition was organized by the Saudi Arabian Society for Culture and Arts in collaboration with the Biology Club at King Abdulaziz University.
• It is being held to encourage students to showcase their creativity.
The exhibition, which will run until May 2 at the organization’s Abdul Halim Radwi Auditorium, presents an artistic interpretation of scientific inquiry. It is being held to encourage students to showcase their creativity.
Fifteen female students presented their paintings, sketches and other projects at the opening of the event.
The students chose as subject matter the body’s various systems, the solar system, human mind, natural world, animals, mathematics, computer programming, global warming and more.
The Sci-Art exhibition allows participants to engage their creative and analytical minds to forge new connections between ideas and learn about the world through art.
Mona Al-Harbi, Vice dean of the college of science, King Abdulaziz University
Al-Subaih praised the students for their work. “This exhibition comes as part of our role in spreading culture and arts … we thought of creating a platform for students to exhibit their talents and showcase their innovative ideas and this exhibition is an exciting moment for us to share with our community.”
Al-Harbi added: “The sci-art exhibition allows participants to engage their creative and analytical minds to forge new connections between ideas and learn about the world through art.
“This exhibition is a way to provide a platform for students and others to express that side of themselves and bring art and science together. Our aim is to encourage students to show their artistic talents and create paintings that related to subjects that they have learned in science.”
‘Chicago’ musical to hit the stage in the UAE
DUBAI: “Chicago,” the American musical with the longest Broadway tenure, is set to be performed in the UAE in September.
The musical will hit the stage at Abu Dhabi’s Etihad Arena for a limited run from Sept.12-22.
“Chicago” is a tale of passion, murder, greed, betrayal and redemption through the journey of two competitive women – an aspiring jazz performer, Roxie Hart, and a former vaudeville star, Velma Kelly.
The production spawned numerous beloved tunes such as “All That Jazz,” “Cell Block Tango” and "Razzle Dazzle.”
Since its premiere on Broadway New York 27 years ago, “Chicago” has played in major cities around the world like London, Sydney, Tokyo, Seoul, Paris, Berlin and Madrid.
Emily Blunt, Ryan Gosling laud stunt performers in ‘The Fall Guy’
TEXAS: Hollywood stars Emily Blunt and Ryan Gosling pay tribute to stunt actors in a film by director David Leitch, who himself started as a stunt actor. Loosely based on the 1980s TV series about stunt performers, “The Fall Guy,” which releases in Saudi Arabia on Thursday, is billed as blending humor, romance, mystery, and action.
“It's a celebration of our incredible industry and this film is about that, but it's really to just broadcast the incredible and indelible work of stunt performers and what they've done for cinema,” Blunt said in an interview with Arab News.
“What they've done for people's entertainment … they've risked life and limb to give people that crackling sense of wonder that you feel in movies and it's time they got their outing,” she added.
In a challenge to the invasion of digital effects in film, not only is “The Fall Guy’ packed with stunts but it has officially set a Guinness World Record for the most cannon rolls in a car, performed by stunt driver Logan Holladay. Eight-and-a-half rolls broke the previous record of seven, set by Adam Kirley for 2006’s “Casino Royale.”
Gosling praised the film for giving a platform to stunt performer.
“I had a stunt double my whole life. And it's always been this strange dynamic where they come in, they do all the cool stuff, and then they go and hide and you pretend like you did it and it's not cool, it's about time that recognize (their work),” he said.
The film follows the story of Colt Sievers, a stuntman who left his job to focus on his own health. When the star of a big-budget movie directed by his ex-girlfriend goes missing, he is recalled to active duty.
“Ted Lasso” star Hannah Waddingham also stars in the film. The British actress shed light on what the movie means to her.
“You know, we shot it this time last year in Sydney. Starting in late November, October time. So to finally be here, I feel like I've had to keep a lid on it for so long. And my brother and I were obsessed with “The Fall Guy” when I was little, when I was like ten years old so it's so lovely,” she said.
