Monday, July 4, 2016

Due diligence needs to matter for the London market

Image seized in Greek police raid (2007)
Source: Dr Christos Tsirogiannis
Due diligence matters. And it matters even more in London as Westminster politicians discuss the issues surrounding cultural property.

And that is why major auction-houses offering cultural property for sale need to demonstrate their due diligence process and indicate the authenticated collecting history for each lot.

Failure to do so merely undermines the market.

Repeat infringements by certain institutions would suggest that due diligence is not taken seriously, and would therefore strengthen the case for politicians to take self-regulation out of the hands of the market.

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