Read More: Business of Art, Internal Revenue Service, Art-Dealers-Association-of-America, Paul Gray, Gerald Peters, Art Dealing, Art Trading, Arts News
Works of art can be quite expensive, and few of the wealthy collectors who purchase pieces are likely to have $200,000 or so sitting in the bank on which they can write a check. More often the case is that these collectors must sell stock or other assets, or wait for an inheritance.
One of the most overlooked financial complications of collecting, or even buying art, is whether or not we actually own the piece we've acquired. Tainted provenance is a real problem in the art world.