{"id":4326,"date":"2018-03-16T15:26:45","date_gmt":"2018-03-16T15:26:45","guid":{"rendered":"https:\/\/migrate1.artrights.me\/acquisto-opere-darte-rischi\/"},"modified":"2020-04-20T14:37:50","modified_gmt":"2020-04-20T14:37:50","slug":"purchasing-art-risks","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/purchasing-art-risks\/","title":{"rendered":"Purchasing Artworks? Discover the 3 main risk factors to take into consideration"},"content":{"rendered":"<h1><strong><em><b><i>You are about to buy the work of a great artist, but are you sure you have considered all the risk factors<\/i><\/b>? <\/em><\/strong><\/h1>\n<h2><strong><em><b><i>Let&#8217;s see the main ones<\/i><\/b>\u2026<\/em><\/strong><\/h2>\n<p><!--more--><\/p>\n<p><strong>Before bringing home the work of an important artist such as <a href=\"http:\/\/www.exibart.com\/notizia.asp?IDNotizia=56366&amp;IDCategoria=204\" target=\"_blank\" rel=\"noopener noreferrer\">Modigliani, Balla o Boetti<\/a>,\u00a0relevant for its historical-artistic and economic value, it is good to be aware of the main factors to be taken into consideration when purchasing.<\/strong><\/p>\n<p><b>Here are the 3 main risk factors for the evaluation of the artworks:<\/b><\/p>\n<ul>\n<li><b>Authenticity to avoid scam<\/b><\/li>\n<li><b>Provenance so as not to fall on illicit ground<\/b><\/li>\n<li><b>Exportability according to the rules<\/b><\/li>\n<\/ul>\n<p>[signinlocker id=4040]<\/p>\n<p><span style=\"font-weight: 400;\">The ways to verify the <\/span><b>authenticity of a work of art<\/b><span style=\"font-weight: 400;\">, be it ancient, modern or contemporary, are different:<\/span><\/p>\n<ul>\n<li><strong><i>Works of ancient art<\/i><\/strong><span style=\"font-weight: 400;\">: It is essential to arrange an appraisal<\/span><span style=\"font-weight: 400;\">\u00a0by a qualified expert<\/span>.<\/li>\n<li><strong><i>Works of modern art<\/i><\/strong><span style=\"font-weight: 400;\">: It is necessary to check if the work is provided with an <strong>Archive Authentication<\/strong> by the authorised subjects (archive of the artist, foundation, other legal form), or if the work is included in the General Catalogues or in the so-called &#8220;Reasoned&#8221; catalogue.<\/span><\/li>\n<li><strong><i>Contemporary works of art<\/i><\/strong><span style=\"font-weight: 400;\">: It is important for the artist or the gallery that is appointed with the sale, to release, as established by &#8220;<\/span><a href=\"http:\/\/www.gazzettaufficiale.it\/atto\/serie_generale\/caricaDettaglioAtto\/originario?atto.dataPubblicazioneGazzetta=2004-02-24&amp;atto.codiceRedazionale=004G0066&amp;elenco30giorni=false\" target=\"_blank\" rel=\"noopener noreferrer\"> <span style=\"font-weight: 400;\">art. 64 of the &#8220;Code of Cultural Heritage and Landscape&#8221;<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">(Legislative Decree no. 42 of January 22, 2004) the <strong>Authenticity Certificate<\/strong>, which contains a detailed description of the work.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In the case of purchase at an auction, the auction house releases a <strong>guarantee of authenticity<\/strong> as often established in the general conditions of sale: in the event of ascertained non-authenticity of the work, very rare but still possible, it is mandatory to return to the purchaser the price paid to the seller.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is useful to remember that &#8220;<\/span><i><span style=\"font-weight: 400;\">Illicit trafficking in the art world has a calculated value of 8 billion dollars a year<\/span><\/i><span style=\"font-weight: 400;\">&#8221; as explained by <\/span><b>Edouard Planche<\/b><span style=\"font-weight: 400;\">,<\/span>\u00a0<a href=\"https:\/\/en.unesco.org\" target=\"_blank\" rel=\"noopener noreferrer\">UNESCO<\/a>\u00a0delegate, reporting the estimates of the\u00a0<a href=\"http:\/\/www.gfintegrity.org\/wp-content\/uploads\/2017\/03\/Transnational_Crime-final.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Transnational Crime and the Developing World Report 2017 of<\/a>\u00a0<a href=\"http:\/\/www.gfintegrity.org\" target=\"_blank\" rel=\"noopener noreferrer\">Global Financing Integrity<\/a>.<\/p>\n<p><span style=\"font-weight: 400;\">In the purchase of the artwork, always verify, possibly with the help of experts, the legitimate <\/span><b>origin<\/b><span style=\"font-weight: 400;\">, checking the documentation of the various changes in ownership.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That of\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<strong>ownership<\/strong><\/span><span style=\"font-weight: 400;\">\u00a0remains one of the factors that most influences the economic value of a work, so much so that it is wise to be wary if you find it difficult to reconstruct the history of the ownership of the artwork you are about to purchase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s talk about one<\/span><span style=\"font-weight: 400;\">\u00a0(but not the only) of the painful notes for the collector: the management of multiple administrative constraints related to the <strong>exportability<\/strong> of the artworks, which unfortunately often slows down the dynamics of purchase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The export regulations are governed by\u00a0<\/span>\u201c<a href=\"http:\/\/www.gazzettaufficiale.it\/atto\/serie_generale\/caricaDettaglioAtto\/originario?atto.dataPubblicazioneGazzetta=2004-02-24&amp;atto.codiceRedazionale=004G0066&amp;elenco30giorni=false\" target=\"_blank\" rel=\"noopener noreferrer\">The Code of Cultural Heritage and Landscape<\/a>\u201d\u00a0<span style=\"font-weight: 400;\">(Legislative Decree no. 42 of January 22, 2004).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The documentation to be used for the practices of free circulation of cultural assets is issued and authorised by the <\/span><b>Export Offices of the Superintendence<\/b><span style=\"font-weight: 400;\"> of the territory of competence.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their <\/span><span style=\"font-weight: 400;\">role is to control<\/span>\u00a0<span style=\"font-weight: 400;\">the circulation of artworks in and out of the Italian national territory and the <\/span><span style=\"font-weight: 400;\">corresponding documentation<\/span><span style=\"font-weight: 400;\"> can be submitted in paper format or through the\u00a0\u00a0Information System of the Export Office (SUE)..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is the <\/span><b>complete list of free circulation practices for cultural assets<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li><b>Certificate of free circulation<\/b><\/li>\n<\/ul>\n<ul>\n<li><b>Temporary circulation certificate<\/b><\/li>\n<\/ul>\n<ul>\n<li>Final Community export license<\/li>\n<\/ul>\n<ul>\n<li>Temporary export license<\/li>\n<\/ul>\n<ul>\n<li>Import certificate or temporary shipment<\/li>\n<li>Self-certification for contemporary art<\/li>\n<\/ul>\n<p>[\/signinlocker]<\/p>\n<p><span style=\"font-weight: 400;\">After reading our article, <\/span><b>DO NOT PANIC<\/b><span style=\"font-weight: 400;\">! Buying works of art of great artists is possible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the necessary precautions and <\/span><span style=\"font-weight: 400;\">with <\/span><span style=\"font-weight: 400;\">the help of art market experts, you will bring home your work <\/span><\/p>\n<h2 style=\"text-align: center;\">Now are you ready to buy the latest masterpiece?<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>You are about to buy the work of a great artist, but are you sure you have considered all the risk factors? Let&#8217;s see the main ones\u2026<\/p>\n","protected":false},"author":4,"featured_media":3897,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,365],"tags":[626,461,35,288,292,40,611,462,289,38,460,36,37,39,290,291,650,287,41],"class_list":{"0":"post-4326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artworks","8":"category-artworks-en","9":"tag-appraisal","10":"tag-archive-authentic","11":"tag-art-rights","12":"tag-attestato-di-libera-circolazione","13":"tag-autentica-da-archiviazione","14":"tag-autentica-opera-darte","15":"tag-authenticity-garantee","16":"tag-autocertification-for-contemporary-art","17":"tag-autocertificazione-per-larte-contemporanea","18":"tag-catalogo-ragionato","19":"tag-certification-of-free-circulation","20":"tag-certificato-autenticita","21":"tag-coa","22":"tag-corredo-opera-darte","23":"tag-garanzia-di-autenticita","24":"tag-perizia","25":"tag-scam","26":"tag-truffa","27":"tag-vendita-opera-darte"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Risk Factors When Purchasing Art | Art Rights Magazine<\/title>\n<meta name=\"description\" content=\"Before bringing home the work of an important artist such as Modigliani, Balla o Boetti,\u00a0relevant for its historical-artistic and economic value, it is good to be aware of the main factors to be taken into consideration when purchasing. 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