Art Investment

Lostart.de won a court collectors

The base is subject to a restitution of cultural values lostart.de proved in court their right to publish papers, even if their current owners are against. From now on, to publish sufficient documentary evidence of the heirs, that piece of art changed owners under pressure

For many years database and, respectively, the website, which are regularly published detailed descriptions of the works, there were between two fires. On the one hand, current owners of the works have proved that they are bona fide purchasers of works of art@the semicolon with another — heirs of collectors of pre-war and war years proved otherwise. At the base constantly raining down requests and claims with the requirement to remove a particular publication.

the Owners published on the website of the works sought to remove publications not only from-за reputational damage, but also because many dealers and auction houses refused to work with the item caught in this database.

But when the representatives of the Lostart.de agree with the arguments of owners and has removed the description of a work of art from the site, they were immediately bombarded with criticism of the heirs of the prewar owners, requiring them to return the artwork or pay the cash equivalent. They accused the representatives of the website that those taking on the role of the court and assigns the object a new status with which one of the parties did not agree.

the Situation is complicated by the fact that, according to the German law of Ersitzung in effect for at least the past half century, the owner of works of art recognized his bona fide purchaser automatically after 10 or more years of ownership.

Finally, in January 2020, the German court has put an end to these disputes, determining that the current owner of the artwork, regardless of its status, cannot forbid someone-либо the publication of data about this product in case if there is documented evidence that this work of art may be subject to restitution.

Source: artsy.net


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