Art Provenance as a Personal Record

The provenance trail of a significant work of art is, in effect, a record of its owner over time. Auction catalogues record the owner at the point of sale; private-sale records (where they are publishable) record successive owners. The major art-market databases (ArtPrice, ArtNet, MutualArt) build proprietary indices on these records.

For a private client whose collection has been built through auction or through known dealers, the records exist regardless of any intention to publish them. The auction catalogue, the catalogue raisonné of the artist, the database entry, and the records held by major insurers and shippers all combine to form a publicly traceable record of ownership.

The audit reads these records as a Wealth-category source. The reading is at the appropriate depth: a private client with a small number of significant works has those works read against the major databases; a serious collector has the wider trade press read alongside.

What the audit identifies, in this category, is typically one of three things.

First, works held by the client that are listed under a previous owner in current database entries. This is common for works acquired through private sale rather than auction; the database updates lag the sale. The audit identifies the entry; correcting it (through the database's grievance procedure) is the client's choice.

Second, works listed as held by the client that are no longer in the client's collection. This can arise where a work has been gifted to a foundation, lent on extended loan, or sold privately without database update. The audit identifies the entry.

Third, works of contested provenance. A work in the client's collection whose pre-war ownership is contested at the database level, even if the contest is dormant, will surface in the audit. Where the contest has been settled (through the Washington Principles process, through litigation, or through private settlement), the audit identifies the settlement record. Where it has not been settled, the audit identifies the dormant contest. What follows from the identification is for the client and their advisers to determine.