Any art collector knows that valuable pieces can be a headache to inherit, particularly when inheritance taxes are exorbitant. But what if the art in question is also illegal? According to Fox News, a couple that recently inherited Robert Rauschenberg's "Canyon" sculpture is facing just such a concern. The piece includes a taxidermied bald eagle, and possession or sale of any bald eagle parts - even stuffed - is a federal crime, making it impossible to sell the piece to offset its tax burden. The piece is valued at $65 million, which amounts to a $29 million tax bill for the heirs.
The previous owner piece had a waiver allowing her to legally possess the art, but it is unknown if that waiver will pass to the new owners. The eagle used in the artwork was killed and preserved long before restrictions were in place, and Rauschenberg had a waiver to create the piece.
Do you believe legal waivers for artwork should be in effect no matter who owns the piece, including whether or not it is sold? Or would this set a dangerous precedent for illegal trade in raptor parts? Share your thoughts in the comments!
Bald Eagle
Photo © Deborah
Comments
Wow! What a can of worms!
I do not believe any new waivers should be granted. However, waivers already granted should not be rescinded, and existing waivers should be transferable. They pose no new threat to birds.
If the waiver is transferred to the new owners, it will be worse for them than if it is not transferred. If they can not obtain a waiver, they will have to surrender the piece, and they will not have received any financial gain from it. A smart tax lawyer could get them out of the inheritance tax on the piece. However, if the waiver is transferred to them, and they can not subsequently transfer it to a buyer, they are stuck with the artwork AND the tax bill.