Barker adds: ‘The art market is a place where those involved prize confidentiality, but it also thrives on rumour and gossip. As such, when a collector is dealing with the many counterparties that will inevitably be required for the upkeep of an important collection (such as insurers, conservators, restorers, curators, framers, shippers, scientific analysis providers, provenance researchers, lighting specialists, and security specialists), not to mention those through whom or from whom the artworks were purchased in the first place, the collector would be wise to impose written confidentiality obligations on those parties where possible.’
Barker tells Tatler, ‘We often draft non-disclosure agreements on behalf of our collector clients or insert confidentiality provisions into suppliers’ terms. Perhaps even more importantly it is essential that such counterparties are reputable and come recommended through a trusted source.’
Bell advises precautionary measures at all times. ‘Keep your collection and its whereabouts private. Don’t share publicly on social media and beware of photographs capturing artwork in the background of publicly shared images.’
From a security point of view, Bell recommends collectors invest in museum-standard fixings to prevent works from being easily removed from walls as well as prominent CCTV cameras that are backed up to a hard drive, not to mention strong locks on all entry points. Keeping up-to-date inventories on artwork details and images of where they are stored is also vital, she advises.
‘Be careful of where your work is hung, don’t hang close to windows or doors unless they are alarmed or very secure,’ warns Bell. ‘If your work is not on display, make sure your art collection is securely stored, applying the same security measures that you apply to your home to your store.’
Bell also suggests seeking specialised advice from security experts who are used to dealing with artwork and ensure works are checked regularly. ‘I don’t know how many times I have heard of thefts taking place in collectors’ homes and they haven’t noticed immediately. Possibly because of the size of their property or because they have started to not notice the artwork day to day. As I know from experience, clients with high-value art collections have property run by many staff and contractors, their homes for example can be very busy with several people in the property at one time – a system of formally identifying staff and contractors must be in place and no contractors should be left unattended around artwork,’ Bell adds, advising limiting access to areas of concern and using only trusted individuals to transport and install pieces.
Gleave highlights the use of new technology in protecting prized pieces. ‘These can produce a digital fingerprint of the works and embed data into the blockchain which links the physical object to the documents proving ownership and authenticity.’