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Art Title Advisors helps protect your ownership rights. In the art world, theft and smuggling have become very big business. So big, in fact, that worldwide trade in stolen and smuggled art, estimated at $6 billion per year, is on par with drug trafficking, illegal arms trade, and money laundering. That means that a lot of stolen art is making its way into the legitimate market, and has been for years. From 1933 to 1945 alone, hundreds of thousands of art objects, worth billions of dollars, was looted or sold under duress. Once art has been stolen, its title is spoiled. This exposes a subsequent owner to the risk that his or her ownership rights could be challenged at any time, even decades after the theft. The current owner could be forced to return the piece and lose the investment made or may be required to pay restitution to the previous owners or heirs.
Art Title Advisors can help collectors successfully manage this risk. |