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You purchase a work of art because of its design and history. Make sure that history doesn’t come back to haunt you.
With estimated losses in the billions of dollars annually,* art theft has become a booming business. Stolen art has the potential for making its way into the most renowned galleries and auction houses and eventually into the private collections of even the best-intentioned collectors. If you unintentionally purchase a work of art that has been previously stolen, the implications can be quite serious. You might be forced to return the piece to the rightful owner and lose your investment, or you may be required to pay restitution to the original owners or heirs. This could mean thousands, if not millions of dollars lost, not to mention the potential for negative publicity, legal fees and significant personal stress.
Title research can help you determine if the title to a work of art is questionable.
Learn more valuable tips on protecting your fine arts collection.
* According to the FBI Art Theft program website
The opinions and positions expressed are the authors’ own and not those of Chubb. The information and/ or data provided herein is for informational purposes only and is not a substitute for professional advice. Insurance coverage is subject to the language of the policies as issued.