Inexperienced market participants, unlike seasoned art dealers, tend to buy not the object itself but rather its story. For some reason, legends generate greater interest and a stronger emotional response than the artwork as such.
In these cases, provenance is perceived as an unconditional guarantee of authenticity, value, and status—especially when it includes well-known names, closed collections, or so-called “chance discoveries.” This is a common mistake, which makes it important to state a fundamental position clearly: provenance is not proof.
Provenance is a working hypothesis. Sometimes highly persuasive, but until it is supported by documentary and technical verification, it remains nothing more than a version.
Where Do the Risks Arise?
In professional practice, we encounter situations where:
• a given story sounds logical and consistent;
• the narrative is carefully constructed;
• the object visually inspires confidence and, on preliminary assessment, corresponds to the claimed period;
yet critically important evidence confirming its reliability is absent.
As a rule, the problem lies in one or more of the following aspects:
• gaps in the chain of ownership;
• the absence of any archival references;
• deliberate or selective concealment of facts.
For us, this is a direct signal to initiate an in-depth review involving additional specialists. There is no doubt that in such cases the risks are more than real. The end buyer may face both legal issues related to prior ownership and the acquisition of a forgery.
The Market and Price
At the same time, provenance directly affects value. Many people today view art as an investment asset.
Works with transparent ownership, confirmed participation in museum exhibitions, and documented presence in significant collections:
• command higher prices;
• sell more quickly;
• have a more predictable future on the secondary market.
This is precisely why art transactions should not begin with enthusiasm. They should begin, as in the practice of Delancy’s specialists, with the search, structuring, and analysis of fragmented data. Our goal is the precise identification of weak points and the elimination of unfounded conclusions.
Human thinking tends to fill in missing fragments. The market understands this—and sometimes takes advantage of it.
Why Are We Talking About This?
We believe it is essential to clearly articulate our values from the outset. Responsibility for the accuracy of information is part of our professional ethics. That is why, in this blog, we will regularly publish materials devoted to issues of origin, attribution, and authenticity.
This is the foundation without which it is impossible to make well-considered decisions in today’s art market.
