If you devote significant assets to developing a fine art portfolio...
If you are a trusted advisor to collectors...
If your institution, auction house, or gallery is a guardian of exceptional works...
...be realistic about your exposure in today's turbulent art market.
Title vs. Provenance
Provenance is a history of where a work of art has been,
not an exhaustive search of ownership rights.
Today's sophisticated collectors understand the importance of researching provenance. But provenance is only part of the story. Even the perfect provenance can hide significant title problems including estate issues, liens, consignment issues, and more. No matter how thorough your due diligence is when you buy, sell, transfer, or exhibit art, without ATPI®, you are still at risk for title challenges.
What Are the Risks?
- Theft. Most buyers have no idea they may be purchasing stolen artwork because...learn more.
- Consignment Problems. According to recent court decisions, sales that do not conform...learn more.
- Liens. Borrowing against the value of art is an increasingly common practice, but...learn more.
- Estate Issues. Even if a family owns art for generations, they may not have clear title if...learn more.
- 1031 Exchanges. Collectors seeking to take advantage of 1031 exchanges are subject to time limits for completing their transactions. ... learn more.
- Authority to Sell. When works of art have been acquired through bequests, the authority of institutions or individuals to sell can be murky. ... learn more.
- Rights of First Refusal. A growing number of contemporary artists and dealers are including rights of first refusal in their bills of sale. ... learn more.
Institutions, you're at risk, too. Here's why...
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Trusted Advisors: Help Your Clients
Intermediaries:
Safeguard client's equity and ownership interest. 
Wealth, Financial, and Tax Advisors:
Guard against client's loss due to title defects when lending against art as collateral or investing in art as a distinct asset class.
Insurance Agents:
Liberty is a NYS-regulated title insurance company.
Attorneys and Estate Planners:
Protect clients against indemnities and other liabilities.
Learn how ATPI® helps you avoid problems when buying, selling, gifting, or exhibiting fine art.
Contact Jennine Orphanides:
212.324.0011
jorphanides@libertyarttitle.com
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Risk