For Immediate Release 21st April, 2017
Contact: Colette Loll, Art Fraud Insights: +1 (703) 395-4672 Bharat Dube, Strategic IP Information: +65-6224-2717
Art Fraud Insights & Strategic IP Information Launch Art & Artistic Legacy Protection Platform To Combat Art Fraud
Art Fraud Insights, LLC (AFI), together with Strategic IP Information (SIPI), have launched the Art & Artistic Legacy Protection (AALP) platform to fight art fraud. The initiative grew out of AFI’s previous work designing and implementing a proactive anti-fraud initiative for eBay’s Art Marketplace. “There have been some public and private sector initiatives, such as the creation of lost and stolen art databases; however, the Art and Artistic Legacy Platform (AALP) is the first comprehensive effort to proactively address theft of a different kind: that relating to intellectual property. " – SIPI Chairman, Bharat Dube
The global art market is valued at around $45 billion, with online sales currently representing approximately 15% of the overall market. Further, analysts estimate the online art market segment is growing at a rate of 24% annually. This will value the online art market alone at a staggering $9.58 billion by 2020. As the global art market grows at an increasingly dynamic rate, and continues to shift online, AALP is designed to monitor, analyze, investigate, and take down fakes and forgeries of original art and illicit use of copyrighted artwork. “I have had many, many calls from artists who have seen fakes of their works offered online, and had no recourse. It is maddening to a creative person who knows their work is being copied and sold as original.” - Art Fraud Insights Founder + Director, Colette Loll Current trends indicate a change in the way buyers are looking for art – searching, browsing, and buying online and through mobile devices. This creates a challenge for authentication with analysts often finding misleading information or inaccurate stock photos to portray works of art for purchase. Artists and artist foundations, as well as prominent galleries and auction houses, have indicated a growing business need to protect artistic legacy while ensuring transactional integrity, which can be a challenge in the notoriously opaque art market where online sellers with nefarious intent can hide in plain sight. “Unfortunately, I get weekly calls from victims who have made a bad online purchase that they regretted. My largest online victim to date spent over $200,000 on a fake Jackson Pollock he was certain was original.” - Art Fraud Insights Founder + Director, Colette Loll Using specialized technology, SIPI has the unique capability to detect and gather intelligence on the key players dealing in fake art and illicitly using copyrighted artwork – serving as a powerful ally to all artists and artistic estates wishing to protect their artistic legacy and financial future.
The AALP Platform aims to protect artists’ rights in the digital space by detecting and addressing any infringing activity for participating artists, identifying and investigating key players involved in these illicit activities, and initiating the removal of offending entities. A database of infringing actors will be maintained for future protection. Findings can serve as actionable feedback for artists, estates and foundations, to help them optimize financial returns for their holdings through online sales and licensing. “AALP is a powerful service that will help secure protection for artistic intellectual property worldwide. Perhaps some, but certainly not all, of the millions of art and art related products - such as signed editions, catalogues, posters, coffee mugs, T-shirts, caps and even socks - being sold online have been authorized by the artist.” Ethan Cohen, Art expert for postwar contemporary and emerging art, certified appraiser, and Consulting Advisor to AALP.
*TEFAF Art Market Report 2017 **Hiscox Online Art Trade Report 2016
About AFI: Art Fraud Insights, LLC is a Washington DC based consultancy dedicated art fraud related lectures, training, exhibitions and product development. Colette Loll is a consultant and thought leader for various technology companies that are offering practical solutions to the prolific problem of art forgery. You can learn more about AFI at: www.artfraudinsights.com About SIPI-IP: Strategic IP Information (SIPI) is the leading online brand and content monitoring service in Asia, and the only global provider of complete online monitoring and enforcement solutions to protect your brand image, copyright, and your reputation. You can learn more about SIPI at: www.sipi-ip.com For further information, please contact: Colette Loll, Art Fraud Insights: +1 (703) 395-4672; Colette@artfraudinsights.com Bharat Dube, Strategic IP Information: +65-6224-2717; BharatDube@Sipi-ip.com