It is not uncommon for issues of legality to present in the media regarding an average business’s product patents, company ethics, or workers’ compensation. Such due diligence services are a necessary department in a modern day corporation. However, the world of art rarely requires the knowledge of law on as frequent a basis; as a primarily subjective marketplace, the buying and selling of art rarely faces issues of legality. But when a seller or gallery does, there are few cut and dry distinctions in law detailing what to legally do and certainly no law firms specialized in preventing art theft.
Marion Maneker is changing that. As a former editor and publisher of the Art Market Monitor news service, and founder of K2 Intelligence, a risk analysis and investigative company, Maneker has started The Art Compliance Company. He hopes to offer due diligence services by determining clear titles on works, investigating their origins, and vetting any prospective buyers. “Art Market Veterans Announce New Business Ventures” directs attention to when Knoedler & Company, a well-respected gallery, was abruptly closed down and caught in litigation for selling dozens of fake paintings as a prime example of why The Art Compliance Company is relevant. As the buying of art has become a more intricate process, simple trust between buyer and seller is unfortunately not enough to complete honest transactions. At a market topping $58 billion dollars in 2012, the global art market is growing to greater monetary heights than ever before. And people in the arts industry would value more trust and less risk now more than ever.
By offering this service, Maneker hopes to stimulate the buying and selling of art. In recent years, well-known buyers have retreated from the risky acquisition of art, lawyers have found the process of vetting too tedious themselves, and scholars have begun to refuse authenticating works for fear of putting themselves in a position to be sued. Maneker admits that one challenge will be promoting his service in a market that prizes discretion, however he is confident his business opportunity will fulfill a needed service. Other companies are also beginning to offer similar services. Art Recovery International, operated by Christopher A. Marinello, will specialize in tracking down and returning missing or stolen art. The goal is to eventually start a database of stolen art separate from the general Art Loss Register.
I think the Maneker and Marinello are both smart entrepreneurs who saw a hole in the market and took the opportunity to meet an industry’s needs. This arts issue reminded me of another article, “Passion, Principle, or Both? Deciphering Art Vandalism,” where two brothers bought various art for the sole purpose of defacing them in the act of creating their own. One issue that was repeatedly brought up in the article was whether what they were doing was ethically wrong. Although by the most basic of legality, “possession is nine-tenths of the law,” the Chapman brothers are not committing any legal felonies, they are changing the initial subject matter of the art to fit their own agenda. With The Art Compliance Company, sellers who are uncomfortable with having their art changed or unaware their art would be by certain buyers can rely on The Art Compliance Company to help smooth the selling process. This way sellers can protect their work from alterations and feel more confidence in who they are selling to.
Works Cited
Manly, Lorne. “Art Market Veterans Announce New Business Ventures.” ArtsBeat Art Market Veterans Announce New Business Ventures Comments. New York Times, 16 Oct. 2013. Web. 18 Oct. 2013.