Feb 1, 2005 12:00 PM

Avoiding the Auction Block

On Oct. 28, 2004, a teleconference was hosted by Stephen Wolff of the Ashton Group in Newport Beach, Calif., on the subject of “Priceless New Tax Ideas for Art Collectors.” The speakers were Roy M. Adams of Sonnenschein, Nath & Rosenthal LLP in New York, and Michael Mendelsohn of the art consulting firm Bridge Strategies for Art and Heirs, in New York. Ninety sites called in; all the listeners identified themselves as trusts and estates practitioners. The following transcript has been edited for readability and space.

STEPHEN WOLFF: Hello. Today we'll be talking about innovative techniques for handling art and why they work for the challenges you face with clients who have large collections.

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