As an art collector, it pays to be organized.

Literally, information technology pays off toobtain supporting documentation at the fourth dimension of your fine art and collectible purchases. These documents volition be instrumental in managing your financials and manor planning.

For i, object documentation volition support authenticity and passage of articulate legal title—proving the value of your piece and bettering your chances to run across a positive render on your investment.

Below is a checklist of documents to consider requesting for any purchase, whether acquiring an object through a dealer, gallery, fine art counselor or individual sale. All documents should exist requested from the seller at the time of the transaction.

Provenance Report

When making an art or other collectible purchase, a provenance report should exist in hand and include the following:

  • By transactions and exhibition history.
  • Names of people—companies, sale houses, dealers, or galleries—that might have taken part in the transaction of the object.
  • D ates and locations of each transaction.

Aside from facts regarding the object'southward past, it tin also include stories and hearsay regarding history. Even if at that place are no documents to support the story, it tin can be a starting point for further research.

Exhibition history, although information technology does non include transactional information, volition include the whereabouts of the object at a specific point in time. This information can include museum or gallery exhibitions. If the object was included in a public exhibition at a museum, chances are good that information technology was also published in an exhibition catalogue, which can exist institute via WorldCat. An exhibition at a gallery may accept resulted in a sale of the object. Galleries sometimes publish exhibition catalogues where the object may be listed.

Some provenance reports are incomplete, may only highlight major collections that the object was included in, or list "individual collection". A provenance study should ever exist farther investigated, even if it is coming from a major auction house or dealer. For more on provenance research, refer to Artwork Archive's article "Getting Started With Provenance Research".

Bills of Auction

When making a purchase of art or another collectible, all bills of sale, including 1 from the current transaction and any by transactions, should be in hand.

Getting a by neb of sale tin can be difficult, but a request can be fabricated for a redacted 1, pregnant any sensitive data can be redacted. Details from past sales that announced to exist insignificant tin can actually exist meaningful such as where the art was last purchased from or the appointment of the last transaction.

Be carefull. This type of information listed in secondary sources is non prove of a transaction. Original documents like bills of sale are primal to revealing past transactional information.

Yous can upload bills of auction to your Artwork Archive business relationship so that your accountants and lawyers ever have admission to these key financial documents around tax flavor and estate planning.

Literature

Supporting literature should be included with the auction including lists of articles, exhibition catalogues, catalogue raisonné listings and any sources that mention of the object. Copies of the articles and literature sources where the object is mentioned are worth requesting.

Condition Report

Request a recent condition report as well. The report should be completed by a conservator and include the type of object, date of examination, dimensions, description, condition, prove of previous repairs, corrosion, stretcher and frame status, fragile or damaged surfaces and whatever loose or missing parts.

We recommend keeping this study in your Artwork Annal account then that conservators and restorers tin properly maintain your work of fine art.

Appraisal

A recent appraisal report that is USPAP compliant (Uniform Standards of Professional person Appraisal Practice) should also be included with your purchase. A USPAP certified appraiser can be found via any of the appraisal organizations such equally Appraisers Association of America, International Social club of Appraisers or American Order of Appraisers. Major auction houses and private appraisal companies can also do appraisals.

Art loss cheque

A document showing that an art loss bank check was run will provide proof of due diligence to reveal if the object was registered as stolen or lost. There are several companies that provide these services including Art Recovery International.

Photography

Ensure that high quality images of the front and back of the object accompany the purchase. Request images that include any signatures, inscriptions or labels, which can all provide information on the object'southward past whereabouts and human activity every bit a lens into the object's authenticity.

Save the data to Artwork Annal

Once all of the object'due south documentation is collected you can store it in an online collection direction system similar Artwork Archive.

The reward of keeping this information online is that you don't have to worry near natural disasters destroying your documentation; physical records can disappear from fires and floods. You tin can easily share documents with those that play a part in managing your investment—fiscal advisors, attourneys, conservators, art advisors, etc. And, these records will always be accessible for those running your manor.

Sign up for an Artwork Archive account to kickoff digitizing and organizing your collection documents.