Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

How Does Nazi-Looted Art Get Back to Its Rightful Owners? Slowly. Very Slowly.

January 14, 2014 by Marion Maneker

ALT-CULT-3-popup

The Economist has a good, brief explanation of why restitution remains such a problem:

The process of claiming looted artwork is often opaque, ad-hoc, expensive and uncertain. Different countries follow different rules and there is no international arbitrator to resolve disputes. Ownership records are patchy, so these tussles are trickier than those over bank assets frozen during the war. Only five countries—Austria, Britain, France, Germany and the Netherlands—have set up independent national commissions for handling claims, and practices vary. In Germany the commission cannot force museums to negotiate. In America most museums are private, so the government cannot mandate restitution. Different statutes of limitations dictate claims on private collections, and the rising value of the disputed artworks has raised the stakes for everyone. Big auction houses, such as Christies and Sotheby’s, research the provenance of every work and encourage settlements. But smaller houses mostly defer to the law, which tends to favour current owners. Claimants often must rely on the good will of collectors or institutions.

The Economist explains: How is Nazi-looted art returned? (The Economist)

More from Art Market Monitor

  • Leon Who?Leon Who?
  • New Orleans Is the Place for African ArtNew Orleans Is the Place for African Art
  • Versace Publicity Reveals a ClaimVersace Publicity Reveals a Claim
  • China Guardian Makes $622m in Four DaysChina Guardian Makes $622m in Four Days
  • Christie’s Unveils Two Big Zao Wou-ki Works for MayChristie’s Unveils Two Big Zao Wou-ki Works for May
  • Allan Schwartzman to Transition Out of Sotheby’s in Advisory ReorganizationAllan Schwartzman to Transition Out of Sotheby’s in Advisory Reorganization

Filed Under: Fraud, Theft & Restitution

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...