The Importance of Provenance
Where has your art collection come from?
In 1940, the National Gallery of Victoria purchased a work created by the Dutch painter Vincent Van Gogh, some fifty years after the artist’s death. For decades it was lauded as a masterstroke of investment - until 2011, when it was revealed that not only was this not a Van Gogh, but its provenance instead could be traced back to a Jewish art collector who sold the work whilst fleeing Nazi persecution. Instead of a Van Gogh masterpiece worth $20 million, the NGV in fact had a stolen work by an unknown artist, one that they inevitably returned to the original owner’s descendants.
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 Violeta Capovska - 'Silence II' |
When determining the value of a work of art, there is one variable factor that can make all the difference - provenance. The documented history of ownership and origin, provenance traces where an item has been, whose possession it has been in, and often helps to verify whether the item is authentically what it claims to be. In the secondary art world, verifiable provenance is essential.
So how do we know what a work of art’s provenance is? At best, provenance is simple, straight-forward and well-documented. This can be a simple line of succession - receipts of purchase, auction listings, and museum catalogues are all used to create a trail that, ideally, can be traced back to the artist. When there are gaps in the paper trail, this becomes a more complicated task. Inconsistencies in the provenance of a work of art can inherently diminish the value of the work. Furthermore, the reputation of the seller can also be impacted - in the auction world, trust and transparency are paramount. Ensuring solid, verifiable provenance isn’t just best practice; it’s essential to protecting both your investment and integrity.
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 Yinarupa Nagala 'Untitled' |
So how do we manage provenance? In today’s digital age this process has been simplified by the processes of storing records and receipts digitally, but with historic works it can be difficult as paper trails are sometimes lost through the years.
Our advice to collectors and estates: keep everything together. That seemingly flimsy piece of paper, old receipt, or label on the back of a frame might look insignificant—but it could be just as valuable, or even more so, than the work itself. These details can form a crucial part of a work’s provenance, helping to verify authenticity, establish historical context, and preserve value. In the world of collecting, documentation is power—so never underestimate what a single tag or note might mean down the line.
