Artwork with insufficient records is not even eligible for appraisal in Western art world

Artwork with insufficient records is not even eligible for appraisal in Western art world. July. 08, 2016 08:44. by 손택균기자 sohn@donga.com. “At an auction held in France in 2007, a little numeric error was found in the year of artwork production in a work book. After all, it was taken not just a simple spelling error since the sale was canceled. The error was interpreted as deceptive information.”

“Any buyers are eligible not only for getting a refund but also suing for damages based on little errors that a seller presented for its art work,” said Alexi Punol, a French lawyer specialized in art law who made a speech at a “Seminar on Art Work Distribution and Vitalization” held in National Palace Museum of Korea on Thursday.

At the seminar prepared in the wake of a series of artwork forgery controversy in Korea, foreign experts stressed that the absolute criteria for deciding the value of any artwork is not its authenticity but the accurate and detailed record for its production and trade history.

“An artwork whose authenticity was not verified cannot be appraised since its market value can’t be decided. It’s a big difference from Korea where appraisal is taken as making decision for its authenticity,” Executive Director Linda Selvin at Appraisers Association of America said.

“French law stipulates in a stringent manner that no seller can arbitrarily change the regulation on artwork guarantee,” Vice President Jean-Michel Renard at Chambre Nationale des Experts Spécialisés explained. It means that no contract can have terms and conditions that lessen the responsibility of a seller in case any issues arise in artwork trading.

A French law stipulated in 1895 that any sellers shall be severely punished if any forgery in signature of an artist or artwork guarantee is found. This goes against the recent contention made by Korean painter Lee Ufan who said, “It doesn’t matter if there is a forged guarantee. When the painter says it’s an authentic piece, it’s an authentic piece. The judgment of the painter is a top priority in deciding the authenticity in Western world of art.”