Some of our clients actively collect art or are very interested in art. We often hear in the news that some work or other is considered to be stolen or of unclear origin. We, therefore, asked the well-known Bern-based art expert and author Dr Franz-Josef Sladeczek to give us some insight into due diligence principles in the art market from a swiss point of view.
The Federal Act on the International Transfer of Cultural Property, which came into effect on 1 June 2005, set out new provisions on importing and trading cultural property in Switzerland. This law also heightened general awareness that art transactions need to be processed with increased care.
Court rulings show that buyers are expected to carefully research artworks before purchasing them. Where does the work come from? What is its history and what is its state of conservation? Is it definitely authentic?
