Gerald Fitzgerald (a trial lawyer and former First Assistant Attorney General of Massachusetts) has published an opinion piece "Give Us CPR: A call for art market due diligence, concerning provenance and the public record" in Art Papers May/June issue, 2014)
The art market currently generates about $60 billion annually. It does so without meaningful regulation and is myopic in the intelligent use of contemporary tools. It functions almost precisely as it did in the early 19th century. Trust still governs in an increasingly untrustworthy environment. As a result this market is rife with forgery, fakery, looting, and sales of stolen objects, all accompanied by a morass of litigation. The way out of this quagmire lies not with increased legal action but in sewing shut the gaping holes in provenance research that permit such chicanery. The creation of a nonprofit Center for Provenance Research (CPR), funded by a small levy on market sales, is sorely needed to vet the legitimacy of what is traded. The greatest deterrent to fraud on the market is a decreasing ability to get away with it.
1 comment:
nice piece and in my opinion,as a collector,a good idea.no one wants to buy a fake or a looted/stolen piece.
kyri.
ps,christies charge %25 commissions to buyers not %20 and anything between %5-10 for sellers.%35 of everysale,not bad eh.
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