As part of efforts to educate the public on the intricacies of art collection to all stakeholders in the industry, the Society for Art Collection (SARTCOL) recently held an online summit on the Importance of Provenance and Resale Rights. Chinyere Akachukwu, Associate, Kenna Partners joined Mrs. Aderonke Akinyele-Bolanle, founder, Jade Art Consulting and Ana Collazo Acha, CEO of Aworanka to speak on this topic.
While speaking extensively on the legal issues that arise during the resale of artworks, Chinyere Akachukwu who is also an artist stated that, “the danger with not having good provenance is that fraudulent sales of art could be made and have been made- several stolen Art have been sold in the past”. She explained that under the law, a person simply cannot give a title he or she does not have and the development of provenance as great practice improve the Nigerian Art scene. According to her, it will bring Nigerian artists closer to receiving better remuneration in the international art market and also help in the management of copyright infringement, forgeries/ fraud and outright misappropriation of art and misinterpretation of legal ownership.
While explaining the importance of provenance to art collectors, Akinyele-Bolanle went on to buttress the point that “verified provenance can prove the authenticity of a piece and greatly increase its value. Since art has been collectible for thousands of years, determining where a piece comes from is often a complex work of historical study and documentation. As a collector, if you have any questions whatsoever about the provenance of a work of art you are thinking of buying, contact an art advisor, consultants or art experts.”
The online summit was attended by art intellectuals like Dr. Jess Castellote and Ms. Sandra Obiago. Art collectors, artists and art enthusiasts from different echelons of society were also tuned in.
Since inception, Kenna Partners have supported the mission of Society for Art Collection and in educating the public through programmes such as seminars, workshops and colloquiums and has supported the appreciation of artists, their arts and culture.