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Key Issues for Collectors: Buyer Beware  

Author:  Richard M. Horwood.; Christine R. Handa.

Source: Volume 16, Number 04, May/June 2017 , pp.3-5(3)

Family Foundation Advisor

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Recent cases have brought to the forefront issues regarding the risks of purchasing art. These incidents serve as a reminder to buyers to take actions at the time of purchase to protect themselves in the event that the purchased art is later discovered to have ownership, authenticity, or provenance issues. Depending on the particular circumstances surrounding each object, there are various precautions that buyers may be able to take in order to avoid losing their investments, the artwork, and even their reputations.

Keywords: Express Warranties; Implied Warranties; Duty of Care; The Business Judgment Rule

Affiliations:  1: Horwood Marcus & Berk,Chartered; 2: Horwood Marcus & Berk.

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