Falcon Fine Art speaks at Art Market Minds
Falcon Fine Art speaks at Art Market Minds, “Risk Management in the Art Market” event
Dr. Tim Hunter, Vice President of Falcon Fine Art, joined a panel of experts at a K&L Gates/Art Market Minds event that discussed “Risk Management in the Art Market”; focusing on how best to identify, manage and mitigate commercial and transactional risks when operating in the art market. With a particular focus on due diligence, the panellists explored areas such as art forensics, authenticity, provenance, and title issues.
Other panellists included Francis Eastaugh, General Manager of Art Analysis & Research, Lawrence M. Shindell, Chairman of ARIS Title Insurance Corporation, and moderator Sean Kelsey, Senior Associate at K&L Gates LLP.
In addition to a panel discussion, each speaker also delivered a speech focusing on a different aspect of risk management in the art market. Dr. Tim Hunter discussed provenance – exploring the real value offered by art experts, and the authenticity, attribution and complexity of using artworks as collateral.
“Expertise is the key element of attribution; crucial to checking the authenticity of an artwork is one’s experience and knowledge of art,” he said, “in conjunction with new scientific techniques and forensic analysis”.
Certainly, all of the panelists agreed that leveraging expertise and carrying out due diligence is key to mitigating risk across an increasingly opaque and global art market. As Sean Kelsey highlighted in his introductory speech: “The risks in the art market have never been greater, or more readily apparent than they are now… and due diligence plays a key role in the anticipation and management of risk.”