Art and Business: Transactions in Art and Cultural Property
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This book discusses how art can affect the world of business. As art has gained greater acceptance as an investment, art is appearing in a variety of transactions that expand the traditional dealer-gallery-auction house sale form. Art transactions increasingly include many art-secured lending, securitization, and commercial transactions. The presence of art in these transactions is frequently novel to the parties involved, who may be unfamiliar with the unique issues and challenges of the art world. Insurance plays a more significant role in art transactions than it has in the past, including title insurance. Some of the topics include:
- Culture (such as the Elgin Marbles)
- Fakes and forgeries
- Questions of titles (such as Nazi-looted art)
- Restrictions on materials (such as the ban on ivory)
- Forms of art-secured transactions (such as Consignments and Secured Loans)
- Express and implied warranties on art
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