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The Sale of Misattributed Artworks and Antiques at Auction

Anne L. Bandle

The glamour and mystery of the art auction, gathering interested buyers from across the globe, makes it one of the most fascinating marketplaces in existence. ‘Sleepers’, artworks or antiques that have been undervalued and mislabelled due to an expert’s oversight and consequently undersold, appear regularly. This fascinating new book provides the first extensive study of the phenomenon of sleepers through an in-depth analysis of the contractual relationships, liability and remedies that arise in the context of auction sales.
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Index

Anne L. Bandle

agency
in a comparative law approach 250, 2528, 2835
in general 100
under English law 14752
under Swiss law 100107
under United States law 2035
alternative dispute resolution
and auction houses 31416, 3215, 327, 329, 33036
and benefits 99, 32130
formalised 33034
analysis
scientific see scientific analysis
technical see technical analysis
anonymity see confidentiality
antique 78, 19, 212, 37, 49, 52, 545, 7072, 183, 264
origin 46, 191
anti-trust claim 62
appraisal see valuation
arbitration 3212, 3257, 33034
art
contemporary 15, 70, 72, 87
impressionist and post-impressionist 70, 72, 2256
modern 70, 72, 87
and Old Master see Old Master
post-war 70, 72
art fair 49, 63, 68
attributes 78, 25, 38, 55, 78, 89, 154, 176, 19091, 231
and artist/craftsman 917, 268
and date/period of creation 13, 1924, 38, 42, 50, 56, 358
and location of origin/discovery 1819, 234, 26
and provenance see provenance
correlation between 234
attribution
changes 425, 84, 264, 287, 297, 303, 306
and doubts 36, 425, 62, 80, 83, 97, 11314, 116, 122, 162, 164, 1656, 216, 222, 227, 299, 303, 31819
and qualifiers 8486
and re-attribution 26, 43
and security 44, 49, 52, 556, 76, 303, 3067, 311
attribution tools 2932, 34, 36, 319
and connoisseurship 2933, 412, 54, 55, 79, 90, 110, 114, 286, 291, 293, 303, 313
and historical documentation 1923, 2931, 35, 39, 43, 53, 54, 85, 292, 329
and judgment by eye 29, 292, 293
see also attribution tools and connoisseurship
and provenance see provenance
and scientific analysis 1314, 17, 29, 312, 346, 40, 423, 47, 51, 109, 110, 112, 163, 164, 233, 260, 293, 297, 358
auction house
and endorser of value 3, 62, 7273
and history 6272
and market maker 62, 7278, 90, 305, 313
and reference 39, 58, 62, 7374, 78, 83, 90, 291, 305, 30910, 314
and secondary market 50, 657
authentication
at court 2917
board/committee 15, 41, 75, 85
tools see attribution tools
authenticity
certificate 3031, 41, 43, 51, 79, 228
guarantee 44, 55, 97, 125, 129, 15051, 199, 205, 216, 26570, 3014, 309, 314, 31720, 330, 335, 336, 3589
report 324, 45, 79, 87, 129, 358
authority and expert 15, 25, 30, 34, 3941, 43, 6162, 76, 89, 212, 264, 293, 296
Badalocchio, Sisto 220, 267
balance of probabilities 161, 165, 196, 199, 2945
Basquiat, Jean-Michel 756
Beltracchi, Wolfgang 14, 40, 97
bid
absentee 252, 255, 257, 284
telephone 252, 255, 2578, 284, 285
Boulle, André-Charles 12, 1617
brand 11, 1416
Braque, Georges 212
burden of proof 147, 1967, 215, 282, 2978
Calder, Alexander 48, 293, 296
care
duty of see duty of skill and care
level of 11011, 156, 159, 161, 177, 2078, 2601, 263, 271, 2723, 286, 289
Caroselli, Angelo 13
Carracci, Annibale 220, 267
catalogue raisonné 30, 32, 34, 434, 5051, 62, 109
Chagall, Marc 13
code of ethics see guidelines
collateral estoppel 296
collector 1, 12, 21, 58, 60, 65, 67, 69, 78, 97, 104, 149, 154, 174, 280, 307
condition report 79, 127, 221
confidentiality 69, 82, 99, 103, 107, 180, 205, 245, 282, 284, 299, 304, 310, 3223, 336
connoisseurship see attribution tools and connoisseurship
conscientious auctioneer 116, 145, 260, 2634, 286
see also reasonable auctioneer
consensus
lack of 425
Constable, John 190
consumer
notion of 1315, 1689, 1745, 1778, 2278, 278
protection 1315, 16786, 22730, 246, 265, 27580, 300, 314
copy 11, 13, 27, 34, 52, 189,
creatorship see attributes and artist/ craftsman
Cropsey, Jasper 66
damages, measure of 198, 200, 201, 239
da Vinci, Leonardo 44, 534, 58, 241, 376
de Chirico, Giorgio 39
diligence see due diligence
disclaimer
and associate 11516, 11922
and consumer law 1315, 16786, 22730
and governing body 11519
and statutory requirements 12431, 21627
see also disclaimer and consumer law
and third party expert 115, 12224
due diligence
standard of 35, 10911, 141, 25964, 27072, 2745, 28591, 2945, 308, 319
duty of diligence under United States law 20610
duty of skill and care
in a comparative law approach 2589, 273, 2858
under English law 15262
under Swiss law 10911
under United States law see duty of diligence under United States law
duty to act in the consignor’s best interest see fiduciary duty
duty to inform see fiduciary duty
Ernst, Max 40
estate 12, 41, 76, 95, 137, 140, 201, 232, 2345, 321
evidence 12, 30, 312, 35, 43, 457, 49, 55, 81, 157, 1612, 221, 229, 236, 24041, 261, 263, 278, 282, 287, 2915, 2978, 301, 310, 320, 3249
expert evidence/testimony 31, 457, 161, 2612, 287, 293, 2967, 320, 329
factory 1415
fair dealing 21113, 21618, 223, 243, 256, 272
fairness requirement
fake 13, 24, 268, 31, 378, 51, 53, 55, 221, 318
see also forgery
fiduciary duty
in a comparative law approach 2579, 285
under English law 1523, 1626, 177, 200
under Swiss law 11114
under United States law 2056, 21016, 21920, 224, 226, 23842
follower 9, 1114, 28, 34, 44, 82, 136, 159, 228
forgery 13, 26, 31, 51, 97, 105 136, 139, 151, 190, 221, 232, 303, 326
see also fake
Gainsborough, Thomas 9, 65
good faith 32, 113, 126, 129, 136, 142, 1756, 1823, 209, 21113, 21618, 220, 2223, 2434, 272, 2789, 287, 289, 318
guarantee
of authenticity see authenticity guarantee
and sale price 7, 55, 689, 778, 1023, 227
guidelines
of the Art Dealers Association of America 33, 356
of the Authentication in Art Work Group 326
of the Basel Institute of Governance 99
of the Catalogue Raisonné Scholars Association 32, 345
of the College Art Association of America 335
of the International Association of Dealers in Ancient Art 33
of the Swiss Association of Dealers in Antiques and Art 33, 36, 83
heir see estate
historical analysis see attribution tools and historical documentation
indigenous property 18
intent, contingent/direct 120, 142
investment 58, 61, 74, 97, 134
Johnson, Sargent 10
Kustodiev, Boris 173, 294
legitimate expectation 104, 250, 253, 308
Levasseur, Etienne 1213, 16
liability
exclusion of see disclaimer
for breach of contract 12931, 1437, 170, 183, 1856, 191, 1936, 199202, 224, 227, 230, 240, 2424, 271
for gratuitous valuations see valuations, gratuitous
for gross negligence 1167, 119, 122, 135, 1456, 269, 271, 273,
for minor negligence 1179, 144
for ordinary/medium negligence 117
for the associate’s selection, instruction and supervision 1212, 135, 145, 271
for unlawful intent 116, 269, 271, 273
for wilful deceit 1202, 1356, 1426, 270, 272, 28990,
in tort see tort
market maker see auction house
mediation 99, 32134, 35960
medium and work of art 10, 1415, 57, 70
Merisi da Caravaggio, Michelangelo 44, 159
Michelangelo see Merisi da Caravaggio, Michelangelo
misrepresentation
fraudulent 756, 1867, 189, 194, 197, 230, 2367, 239, 2423
negligent 75, 143, 159, 186, 1945, 197, 200, 230, 236, 2379
mistake 136142, 18692, 23035
and disclaimer 130, 14041, 232
fundamental 131, 13642, 18991
Montigny, Philippe Claude 17
Munch, Edward 52
Myatt, John 31
negligence
at common law see misrepresentation, negligent
and disclaimer 11524
see also liability
negotiation 148, 171, 185, 211, 301, 314, 321, 3234, 3268, 33031, 333, 359, 360
Old Master 9, 11, 15, 17, 44, 56, 7072, 80, 160, 189, 220, 241, 264, 292, 317
pacta sunt servanda, principle of 137
perception 29, 37, 42, 5051, 53, 55, 5960, 89
Poussin, Nicolas 2, 13, 322, 331, 377
preponderance standard see balance of probabilities
prestige 6061, 64
price
determinants 57
formation 768, 256, 258, 2845
see also value
primary market 657
proof see evidence
provenance 2032, 378, 40, 42, 50, 52, 54, 556, 61, 75, 79, 83, 88, 89, 94, 99, 114, 127, 149, 154, 177, 1813, 203, 228, 230, 252, 266, 2923, 317, 358
cryptic 23, 83
pupil 1015, 28, 44, 2201, 228, 267
reasonableness requirement/test 16772, 1816, 1967, 200, 202, 223
reliance, principle of 126
Rembrandt Research Project 43
Rembrandt van Rjin 9, 15, 43, 834, 191, 272
representation direct/indirect 1007, 120, 138, 153, 195, 198, 201, 24950, 252, 254, 259, 276, 281, 284, 288
reputation 1, 39, 41, 48, 62, 85, 98, 107, 162, 293, 299, 306, 310, 314, 317, 322, 3356
res judicata 296
reserve price 59, 69, 734, 778, 80, 145, 166, 171, 194, 20810, 21415, 224, 2267, 256
restoration 2, 89, 1617, 25, 33, 59
Reynolds, Joshua 65
scarcity
of artworks/supply 41, 52, 86
scholarship 21, 25, 37, 39, 423, 86, 89, 141, 264, 287, 296, 303, 318
scientific analysis see attribution tools and scientific analysis
secondary market see auction house and secondary market
status see prestige
Stubbs, George 58, 1557, 200, 262
studio 9, 11, 14, 17, 34, 63, 67, 834
style 9, 1115, 19, 2627, 38, 42, 50, 53, 83, 110, 160, 292
technical analysis see attribution tools and scientific analysis
Testa, Pietro 2, 321
Titian 9, 11, 12, 3234
tort 109, 13031, 143, 153, 173, 186, 193, 1945, 1989, 207, 226, 230, 2358, 240, 242
and disclaimer 109, 130, 173, 226, 238, 240
of negligence see misrepresentation, negligent
Turner, William 13, 51
uniqueness 50, 52, 54, 845, 251
value
economic 37, 50, 5561, 79, 89, 290, 3023, 306
expressive 20, 37, 5051, 537, 61, 79, 96, 290, 302, 303, 306
market 7, 20, 37, 567, 74, 768, 80, 98, 128, 183, 208, 223, 359
material 37, 5051, 61, 79, 96, 290, 303, 306
valuation 1, 21, 36, 42, 47, 74, 79, 868, 90, 945, 1089, 111, 115, 1234, 126, 130, 135, 140, 1434, 154, 1558, 160, 165, 177, 181, 195, 199, 202, 207, 211, 2345, 238, 2423, 259, 260, 274, 286, 299, 306
gratuitous/free of charge 1089, 154, 1569, 274
van Dyck, Anthony 9, 17, 8081, 2923, 3789
van Meegeren, Han 38
Veblen effect 6061
Vermeer, Johannes 3738
warranty
of authenticity see authenticity guarantee
of quality 55, 120, 128, 150, 187, 268, 302
Wednesbury reasonableness 167, 1814, 223
World Intellectual Property Organization (WIPO) Arbitration and Mediation Center 3334
workshop 1112, 14, 1516, 56
Wtewael, Joachim Antonisz 84