60% of Art Collectors Would Buy More Art If It Were Accompanied By An Irrevocable Authenticity Guarantee.NEW YORK--(BUSINESS WIRE)--Oct. 13, 1997-- -- Results of ArtExpo '97 Survey Show that Authenticity Concerns Are Impacting All Collectors' Purchase Decisions -- OmniGuard Corporation today released the results of a comprehensive survey of attendees at the ArtExpo '97 show in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The results reveal that there is a pent-up demand among collectors of all income levels for limited edition and original art. Notably, 60% of respondents said they would buy more art if it were accompanied by an irrevocable Unable to cancel or recall; that which is unalterable or irreversible. IRREVOCABLE. That which cannot be revoked. 2. A will may at all times be revoked by the same person who made it, he having a disposing mind; but the moment the testator is , money-back guarantee. OmniGuard, the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that certifies and guarantees the authenticity of limited edition prints and original works of art as they are created, commissioned the survey to better understand art lovers' buying patterns and concerns, and to gauge the impact of widespread media coverage of sophisticated forgery forgery, in art forgery, in art, the false claim to authenticity for a work of art. The Nature of Forgery Because the provenance of works of art is seldom clear and because their origin is often judged by means of subtle factors, art rings and unauthorized limited edition runs. Among the notable findings of the survey, which was conducted by Andersen Consulting See Accenture. : -- Nearly one in three (32%) of those who are buyers of limited edition art admit they have hesitated to purchase work they like because they "lacked confidence in documentation offered by the gallery" or "were concerned that extra copies of the piece could come onto the market" or "were unsure that the gallery would make good if they had doubts later." --Across all income levels, the majority (60%) of collectors said they would either "definitely buy" or be "much more likely to buy" art they loved if it were covered by an irrevocable money back guarantee. -- Nearly three-quarters (74%) of those looking to buy limited edition prints would "definitely buy" or be "much more likely to buy" if there was a guarantee of edition size backed by a major insurance company. -- A overwhelming majority (84%) of members of the fine arts trade "would be much more likely to buy" or at least "more likely to buy" limited edition art with a guarantee of edition size. -- 26% of respondents shop for art because they are interested in making an investment and nearly one in four (23%) value their collections at over $50,000. "As evidenced by this survey's findings, there is clearly a pent-up demand for all types of art. By eliminating, in the most definitive way possible, the authenticity issue, OmniGuard is expanding the revenues and markets of the entire art industry," said Thomas Cleveland, President of OmniGuard. Works certified under the OmniGuard authenticity program are backed by an irrevocable, money-back guarantee from a consortium of major insurance companies. The program is in no way dependent on the financial resources of galleries, art publishers, artists or even OmniGuard. Any new work, in any medium, is eligible for coverage. Additionally, the OmniGuard International Art Registry establishes clear provenance prov·e·nance n. 1. Place of origin; derivation. 2. Proof of authenticity or of past ownership. Used of art works and antiques. , or ownership record, for pieces covered in the program, potentially stabilizing and enhancing the future value of a piece and aiding in its recovery, if ever stolen. A work covered by the OmniGuard authenticity program is distinguished by an engraved en·grave tr.v. en·graved, en·grav·ing, en·graves 1. To carve, cut, or etch into a material: engraved the champion's name on the trophy. 2. , tamper-proof seal made of indelible inks, special threads and complex watermarks. Added Mr. Cleveland: "Consumers' buying behavior and expectations are uniform, no matter what is being purchased - electronic equipment, financial products or durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. . Most industries have conditioned people to require guarantees, extended warranties The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and other assurances. The OmniGuard authenticity program fills this void in the art market, providing an irrevocable money-back guarantee that benefits collectors and their heirs." The OmniGuard program is a real deterrent to forgery. Forging an non-OmniGuarded work constitutes copyright infringement Noun 1. copyright infringement - a violation of the rights secured by a copyright infringement of copyright plagiarisation, plagiarization, piracy, plagiarism - the act of plagiarizing; taking someone's words or ideas as if they were your own ; but reproducing an OmniGuard-protected work is an act of insurance fraud, a federal felony felony (fĕl`ənē), any grave crime, in contrast to a misdemeanor, that is so declared in statute or was so considered in common law. . The survey, conducted by Andersen Consulting, polled 455 attendees at ArtExpo '97 at the Jacob K. Javits Jacob Koppel "Jack" Javits (May 18, 1904 – March 7, 1986) was a liberal Republican New York politician originally allied with Governor Nelson A. Rockefeller, fellow U.S. Senators Irving Ives and Kenneth Keating, and Mayor John V. Lindsay. Center in New York in February of 1997. Based in New York, OmniGuard is a financial services company that certifies and guarantees the authenticity of limited edition prints and original works of art as they are created, thereby eliminating future authenticity issues. The OmniGuard International Art Registry establishes clear provenance, or ownership record, for pieces covered in the program, potentially stabilizing and enhancing the future value of a piece and aiding in its recovery, if ever stolen. CONTACT: Frank Sommerfield Communications, Inc. 212/255-8386 mail@sommerfield.com info@omniguard.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion