{"id":30793,"date":"2018-10-29T12:55:46","date_gmt":"2018-10-29T16:55:46","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=30793"},"modified":"2024-12-11T16:31:04","modified_gmt":"2024-12-11T21:31:04","slug":"how-to-safely-navigate-the-art-market-title","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2018\/10\/how-to-safely-navigate-the-art-market-title\/","title":{"rendered":"How To Safely Navigate The Art Market: Title"},"content":{"rendered":"<p><a href=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/09\/john_bentham_dinsdale_e1223_the_flag_the_flag_the_precious_flag_banner.jpg\"><img decoding=\"async\" class=\"wp-image-30690 aligncenter\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2018\/09\/john_bentham_dinsdale_e1223_the_flag_the_flag_the_precious_flag_banner.jpg\" alt=\"image-john_bentham_dinsdale_e1223_the_flag_the_flag_the_precious_flag_banner\" width=\"544\" height=\"91\" \/><\/a><br \/>\nIn the art world, title has two meanings \u2013 the name of a work and legal ownership. For now, I will be discussing the latter.\u00a0\u00a0Title is a legal term used to describe, in our case, the ownership of a work of art.\u00a0 Questions often asked are: Do you have \u2018title\u2019 to the work? Are you the owner of the work? Does the work have \u2018clear title\u2019?<\/p>\n<p>Determining if the person you are purchasing a work from has clear title, or the legal right to sell it, is often difficult.\u00a0 Unlike other items one may buy \u2013 cars, stocks or real estate \u2013 works of art (and for that matter jewelry, furniture, porcelain, and most collectibles) are not registered\/listed in some database where one can see who the real owner is. Most works of art have changed hands many times (often privately) and the provenance (the actual chain of ownership \u2013 which I will discuss next month) is usually very vague, has significant gaps, or is entirely unknown.\u00a0 In many cases, it is nearly impossible to verify who the actual owner is.<\/p>\n<p>We have all read about Nazi-looted art, or soldiers who \u2018took\u2019 works that they found during the Second World War, and how many of these pieces ended up in major public institutions and private collections.\u00a0 With more information about these looted works surfacing on various Internet sites, it is becoming a little easier to see if a particular piece has a dark past, but there is still a great deal of art missing from those databases.\u00a0 When a purported stolen work is discovered, and there is proof that the work never had clear title, the current owner is usually forced to return it to either the actual owner or their heirs, and that can be a very costly matter.<\/p>\n<p>So, what is a buyer to do?\u00a0 Well, your best option is to deal with reputable and well-established firms who will stand behind the works they sell.\u00a0 In other words, should an issue ever arise concerning the title of something you own, the establishment you purchased it from will take the hit and refund your money.\u00a0 Most reputable galleries, to the best of their abilities, do their \u2018due diligence.\u2019\u00a0 They want to be as sure as possible that the individuals they are buying from are the actual owners, have clear title, and the legal right to sell.\u00a0 There is nothing more embarrassing than calling a client, years after they bought something, to inform them that a work in their collection was stolen and must be returned.\u00a0 However, without national databases showing a legal chain of ownership, there is still only so far even a trained professional can go.<\/p>\n<p>Keep in mind that this risk is even more present in some of the online auction platforms.\u00a0 Most people trading on the Internet know nothing about each other.\u00a0 Besides the apparent chance that you may pay for something and never receive it, how do you know that the item offered is owned by the seller, or that the seller has the legal right to offer it?\u00a0 Also, what if the work turns out to be stolen? Will you ever be able to find the person who sold it? Will you ever get your money back?\u00a0 In the faceless Internet world, the answers to these questions are pretty obvious.<\/p>\n<p>If this unfortunate turn of events should happen, it is usually the last person holding the work that is \u201cout the money.\u201d\u00a0 Again, as I mentioned earlier, to help protect yourself from being the unfortunate one, it is advisable to deal with well-established firms (dealers, galleries, auctions, etc.).\u00a0 Those that are leaders in their field, have developed excellent reputations, and have been, and will most likely be, in business for many years to come.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the art world, title has two meanings \u2013 the name of a work and legal ownership. For now, I will be discussing the latter.\u00a0\u00a0Title is a legal term used to describe, in our case, the ownership of a work &hellip; <a href=\"https:\/\/rehs.com\/eng\/2018\/10\/how-to-safely-navigate-the-art-market-title\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":21,"featured_media":30689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[399,400,46,1234],"class_list":["post-30793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-art-collecting-advice","tag-how-to-safely-navigate-the-art-market","tag-investing-in-art","tag-title"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How To Safely Navigate The Art Market: Title<\/title>\n<meta name=\"description\" content=\"In the art world, title has two meanings \u2013 the name of a work and legal ownership. 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