ART IDENTIFICATION AND REGISTRATION

(March 2024)

A defining characteristic of fine art is that insurance is an imperfect tool to address the property owner's concern. If the property is destroyed or lost, monetary reimbursement is a less satisfactory result compared to coverage for routine property.

Example: Georgia’s home was destroyed by wildfires. Her loss report included a claim for more than a dozen antique portraits from several artists. However, the records and receipts for all of the paintings were also destroyed in the fire. The part of her claim for the paintings (requesting $38,000) was settled for $4,500. Her insurer explained that she did not have enough documentation to justify a higher payment for the lost art.

Besides the difficulty in documenting property value to justify a sufficient recovery, money doesn’t result in replacing unique property. However, the greatest peril that threatens art and cultural objects, on both a national and international level, is theft. Therefore, fine art property owners typically have an even greater concern for securing their assets against loss.

Art Identification

Properly identifying covered property is important in any insurance program, but it is particularly critical when dealing with fine art since it:

· Makes it easier to determine a piece's value.

· Helps to secure the correct coverage.

· Increases the likelihood that the coverage is priced fairly.

· Improves the chances that stolen art may be recovered.

Since fine arts are very vulnerable to theft, it would make sense to maximize the chance for recovering stolen fine art by registering the property. In the early 1990s, the J. Paul Getty Trust (which oversees the Getty Art Museum) aided both the art and insurance worlds via the monumental project that resulted in the creation of "Object ID," an international minimum (or core) standard for identifying art objects.

Since its introduction, the standardization of art identification and “Object ID” concepts have been adopted by various players in both the worlds of art and international authorities since improved identification aids in valuation and security.

Features of Object ID

Object ID focuses on different elements that assist in creating documentation that reliably identifies a particular piece. Object ID isn't complicated or sophisticated. Actually, it's just a collection of practical considerations with regard to efficiently and effectively assist with providing accurate object descriptions that include the following:

Element	What to include
Materials	Does the piece consist of glass, marble, soapstone, iron, copper, etc.?
Name or Title	Always include any proper name that exists for a piece. It does not make a difference whether the name or title is famous; a title aids identification.
Art Media	What sort of art is involved? It may appear obvious, but it would be helpful to state whether a given piece is pottery, sculpture, painting, etc.
Photography	It is critical to include at least one clear photo of the item. It is more helpful if the photo(s) document defining marks/features. It would also be helpful if the photo gave some indication of the property's size.
Special Identifiers	In detail, describe any special markings (which identify the piece's maker or origin), inscriptions or stampings, even distinctive marring, stains, etc.
Dimensions	All descriptions should include the object's height, length, width (when applicable), weight, etc.
Topic of Piece	Describe what is illustrated, represented, or depicted in or by the piece (i.e., a picture of a Greek warrior, a young farmer lifting a hoe, a dancer putting on a costume).
Miscellaneous Description	This may consist of information that isn't mentioned elsewhere. This can be thought of as a "potpourri" area of information.
Creator	Be as specific as possible, full name when possible or indicative of a given time period. Ex. The material and style indicates it is from (fill in blank).
Work Type	Is the piece cast, or is it carved? Is the design drawn on top of another surface or etched?
Origin	When was the piece created; supply as much info as possible.
Security	Store the documentation in a place that is safe and accessible.

Art Registration

A completed Object ID Checklist (or similar documentation) would allow an insured to register their property with any of a growing number of sources, such as The Art Loss Register.

Editor’s note: This information is not an endorsement or promotion of this particular art registration site. This information is provided for the purpose of illustration. Contact information, fees and other details are subject to change.

Sites such as the Art Loss Register or the National Fine Arts Registry provide an independent source for documenting fine art ownership. Such sites are often queried by investigators as well as fine art dealers, auction houses, museums, exhibitors, and collectors (individual, government and corporate) to check property offered for sale, as well as for searching for stolen property.

Art Registration Form Information

Such forms typically include the following:

· Title

· Artist's name

· Medium/Media

· Dimensions

· Purchase date

· Purchase price

· Current value (if purchase date is remote)

· Seller's information (included location of sale)

· Fine art description

· Photo (attach file or a current link)

· Supporting documents

· Provenance (refers to information on ownership history)

Registration Benefits

Registering art works offers the benefits of providing a safe, additional source of ownership documentation. It also acts as a tool to document the work's provenance (ownership history) which adds significantly to a given piece’s value. Naturally, it acts as a source for filing and documenting a loss of the registered property, especially if it is accompanied by sources such as an online appraisal, photos, and other, similar information.

Registration Cost

Registering art requires an insured to pay an additional expense. This cost, which varies by the provider as well as by the level of service selected, has to be balanced by the referenced benefits. This expense is not covered by insurance.