New Players Same Faces in the Game of Art Selling
March 1, 2009
Andy Warhol Authentication Committee is closed; Calder Foundation is pleading the fifth to avoid answering hard questions and the famous but now defunct Knoedler Gallery is being sued for selling forgeries. What are the collectors, museums, art dealers and insurers to do as art experts are scared to offer opinions on art works presented for authentication? Enter a new bread of art service providers. Marion Maneker co-started the Art Compliance Company to provide “360˚ due diligence on any significant art transaction, including detailed information on the seller, the work and any claims or encumbrances connected to the work.” as well as provide documents and trnasactional information to increase buyer’s confidence the art work for sale. This company will also help with Anti-Money Launderng matters peferom counter-party vetting and UCC searches to ensure buyer’s are not buying litigation for the price of the priceless art.
In the mean time, the Art Loss Register, a go-to for profit entity that maintains a database of stolen art works and other valuables is preparing to split the pie with a newly established Art Recovery International. An entity started by the Chris Marinelly, formerly with Art Loss Register to help indentify and recover stolen, missing and lotoed artworks aswell ad assit in dispute resolution negotiations and offer due diligence services such as investigation and research into the provenance, title and authenticy of art works and cultural artifacts.
Both Art Recovery International and Art Compliance Company seem to have a network of professionals (researchers, attorneys and such) to ensure confidence and offer a piece of mind to the art market movers and shakers. One cannot help but notice how similarly crisp and minimalist the web pages of the two entities are as if to suggest that provenance research and title issues are clear issues to decide. Regardless of the branding, buyer’s should do their own due diligence and