The sale of misattributed artworks and antiques at auction / Anne Laure Bandle, London School of Economics and Political Science, UK.
2016
K3778 .B36 2016 (Map It)
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Details
Author
Title
The sale of misattributed artworks and antiques at auction / Anne Laure Bandle, London School of Economics and Political Science, UK.
Published
Cheltham, UK : Edward Elgar Publishing, [2016]
Call Number
K3778 .B36 2016
ISBN
9781786431004 (cased)
1786431009
9781786431011 (eBook)
1786431017 (electronic bk.)
1786431009
9781786431011 (eBook)
1786431017 (electronic bk.)
Description
xxvii, 385 pages : illustrations (some color) ; 24 cm
System Control No.
(OCoLC)958796943
Summary
"The glamour and mystery of the art auction, gathering interested buyers from across the globe, makes it one of the most fascinating marketplaces in existence. 'Sleepers', artworks or antiques that have been undervalued and mislabelled due to an expert's oversight and consequently undersold, appear regularly. This fascinating new book provides the first extensive study of the phenomenon of sleepers through an in-depth analysis of the contractual relationships, liability and remedies that arise in the context of auction sales. [This book] begins with examination of the creation of sleepers and the process of attribution of artworks and antiques at auction. This is followed by a comparative analysis of the law governing auctioneer's liability in Switzerland, England and the United States and a critical assessment of the risks and drawbacks of the current practical and legal regime. The book concludes with an original and pragmatic solution to the challenge of addressing and settling sleeper disputes at auction, including model terms that auction houses can directly adopt in their business terms."-- Back cover.
Note
With a foreword by Pierre Tercier.
Bibliography, etc. Note
Includes bibliographical references and index.
Record Appears in
Added Author
Table of Contents
Acknowledgements
ix
List of figures
xi
List of abbreviations
xii
Foreword / Pierre Tercier
xvii
Table of cases
xxii
Introduction: Problem statement and objectives of this book
1
pt. I
CREATION OF SLEEPERS AT AUCTION
1.
Notion of "sleeper"
7
1.
Misdefined attributes
8
1.1.
Creatorship respectively place of origin or discovery
9
1.2.
Date or period of creation
19
1.3.
Provenance
21
1.4.
Correlation between attributes
23
2.
Identification of a sleeper
24
2.1.
Defining action
24
2.2.
Comparison to fakes and forgeries
26
2.
Process of attribution of artworks and antiques
29
1.
Attribution techniques
29
1.1.
Three attribution tools
29
1.2.
Best-practice guidelines
32
2.
Essence of attribution
37
2.1.
Determining authenticity through attribution
37
2.2.
Challenges in authentication
39
2.3.
Attribution affects value
49
3.
Attribution at auction
62
3.1.
History and positioning of auction houses
63
3.2.
Occurrence of sleepers at auction
78
3.3.
Underlying interests and needs in the creation of sleepers at auction
82
3.
Interim conclusion
89
pt. II
ANALYSIS OF THE CURRENT LEGAL REGIME IN SLEEPER DISPUTES
4.
Interests and expectations in sleeper cases
93
1.
Expertise -- informed decision
94
2.
Economic and business concerns
96
3.
Reputation
98
4.
Confidentiality
99
5.
Current regime governing the auctioneer's liability
100
1.
Swiss law
101
1.1.
Legal relationships
101
1.2.
Auctioneer's duties to the consignor
108
1.3.
Warranty disclaimer
114
1.4.
Consignor's causes of action
136
2.
English law
147
2.1.
Legal relationships
147
2.2.
Auctioneer's duties to the consignor
152
2.3.
Warranty disclaimer
166
2.4.
Consignor's causes of action
186
3.
United States law
202
3.1.
Legal relationships
203
3.2.
Auctioneer's duties owed to the consignor
205
3.3.
Warranty disclaimer
216
3.4.
Consignor's causes of action
230
6.
Interim conclusion
245
pt. III
COMPARATIVE AND CRITICAL ASSESSMENT
7.
Comparative analysis
249
1.
Controversial aspects in the legal relationships
249
1.1.
Parties to the sale contract
250
1.2.
Auctioneer's dual representation
252
2.
Difficulties in assessing diligence
258
2.1.
Reasonable auctioneer standard
259
2.2.
Requirement of expert consensus
263
3.
Disclaimer of liability versus authenticity guarantee
265
3.1.
Disclaimers as protection shield for auctioneers
265
3.2.
Courts interpreting the art auction houses' disclaimers
270
3.3.
Trends in the protection of consumers and art auction consignors
275
8.
Critical assessment
281
1.
Implications for the parties, the courts and the art market
281
1.1.
Legal relationships
282
1.2.
Reasonable auctioneer standard
285
1.3.
Reliability of attributions and catalogue content
288
1.4.
Authentication at court
291
1.5.
Burden of proof and evidence
297
1.6.
Anonymity
298
1.7.
Emerging legislation
299
1.8.
Contrasting juxtaposition of sleepers and forgeries
301
2.
Fairness and drawbacks
306
2.1.
Auction practice: consignors v purchasers
306
2.2.
Legal regime and its implications
307
9.
Interim conclusion
312
pt. IV
FUTURE PERSPECTIVES: MARKET REGULATION -- NEW TRADING PRACTICES
10.
Authenticity guarantee to consignors
317
11.
Alternative means of dispute resolution
321
1.
Underlying reasons and benefits
321
1.1.
Confidentiality
322
1.2.
Cooperation
323
1.3.
Control and flexibility
324
1.4.
Expense and delay
327
1.5.
Experts as dispute resolvers
329
2.
Formalised alternative dispute resolution
330
2.1.
Advantages of formalised alternative dispute resolution
330
2.2.
Outlines of formalised alternative dispute resolution
332
12.
Conclusions
335
References
337
Appendix 1
Model terms
358
Authenticity guarantee to consignors
358
Formalised alternative dispute resolution
359
Switzerland and England
359
United States
360
Appendix 2
Auction terms and conditions
361
Christie's Conditions of Sale -- London
362
Koller Auktionen Conditions of Sale -- Geneva
368
Sotheby's Conditions of Sale -- London
371
Appendix 3
Illustrations of sleepers
376
Index
381