Buying and selling art is a business of passion. But that passion has never seemed so fraught with risk. Money laundering, criminal sanctions, regulatory compliance, corporate governance, cyber attack, online fraud, and forgery on an industrial scale - all are increasingly interwoven with the day-to-day challenges posed by borderless commerce, big data and globalised criminality. Make one false move, and the price can be high. Businesses, reputations and livelihoods are on the line.
As announced at the Art Business Conference on 1 September, this short series of half-day seminars is organised in association with Art Market Minds, and brings together experienced specialists in their respective fields to address commercial, compliance and cyber risks. The aim of each seminar is to bring together senior art market professionals, and to promote discussion around identifying the risks, and responsible strategies for mitigating and resolving them.
Each half day session will commence with breakfast networking and registration at 9.30 and will conclude with a networking sandwich lunch served in the spectacular K&L Gates offices overlooking St. Paul's Cathedral.
The first seminar is on “Commercial and Transactional Risk”, and will comprise the following two sessions:
Due Diligence - forensics, provenance, and title issues
A thing of beauty is a joy forever. But an artwork acquired without proper care, can be anything but. Participants in markets for art too often find themselves at risk: from forgery, misattribution and shadows over ownership. Our panellists discuss ways in which scientific and art historical investigation, connoisseurship, and policies of insurance all offer opportunities to mitigate those risks.
Speakers: Francis Eastaugh (Art Analysis & Research), Tim Hunter (Falcon Fine Art) and Lawrence M. Shindell (ARIS Title Insurance Corporation).
Transactional Risk - contracts, disputes, and resolving them
Trust is an invaluable commodity in markets for art and antiques, as in so many others. Without mutual understanding, however, trust can be reduced to blind faith, and once lost, it can sometimes never be restored. This panel discusses legal strategies for supporting the trust buyers and sellers of art invest in one another; and addresses some of the means by which a breakdown of trust can be managed with delicacy, and in confidence.
Speakers: Nicola Wallce (Art ADR Global / ArtResolve) and Sean Kelsey (K&L Gates)