Investment and Acquisition, Transactions and Trade

Investment and Acquisition, Transactions and Trade

Investment in modern and contemporary art and in cultural property has grown over the years

Investors seek return and failing to properly address the legal components of investment leads to increased financial risk, overestimations or underestimations of returns

Acquisition of art by museums, foundations and collectors has also grown over the years. Such buyers generally buy art for its own own value and do not seek return as investors usually seek

Investments and acquisitions of art and cultural property raise significant legal issues and the related risks deserve an early assessment

Acquisition by Possession: the non-derivative acquisition of art raises complex legal issues as to title and good faith. Professor Carducci has worked and published extensively on these matters in comparative and international law.

Art-related Transactions are nowadays most often cross border. They include various types of contract, such as:

commissioning of artworks: creation according to the buyer’s instructions

sale: between the artist and a buyer, between galleries, museums , foundations, companies

loan: between the artist and a client, between galleries, between museums, in particular in the context of temporary exhibitions

insurance: between the owner and the insurer, or a temporary possessor and the insurer

transport: between the owner, or a temporary possessor, and the carrier

International Trade in art adds to the cross border transaction element the complexity associated with international trade which includes inter alia the consequences of change of situs as to title and other rights related to art, the indentification of the relevant export and/or import regulation and related authorization for the artefact concerned

International Transport of art is different, in various regards, from trasport of ordinary chattels and commodities

Professor Carducci can assist governments, public and private entities, by resolving disputes (as arbitrator or mediator) or providing expert  advice (as expert for legal opinions) or advice and party’s representation (as legal counsel) as to the complex legal matters in public and private international law and related risks that investment, international transactions, acquisitions and trade in art and cultural property raise.

Professor Carducci can assist as to:

negotation and drafting of taylor-made art-related (domestic and international) transactions

provenance, determination of title, authenticity, acquisition policies and standards, return and restitution claims

evaluation of the risk and consequences of a restitution claim

identification and compliance with export- import regulations

optimization of dispute resolution in negotiating a deal 

dispute resolution as counsel, arbitrator or mediator (litigation, arbitration, mediation, conciliation, negotiation, « Arb-Med », « Med-Arb »)

determination of jurisdiction, applicable law, recognition and enforcement of judgments and arbitral awards

Prof.Carducci has gained a significant experience and expertise and specifically to art investment and acquisition, transactions and trade. See in this website:

UNESCO experience as to the 1970 Conventionon on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property

Drafter and elaboration of the UNESCO-WCO Customs Model Export Certificate for Cultural Objects

Legal practice as arbitrator, legal expert and counsel

Research and teaching in Commercial Law, International Business, Trade and Arbitration Law

Visting Professor in International Art and Cultural Property Law

Standard-setting experience as Member of the ICC Commissions on Arbitration and ADR, Commercial Law and Practice, Competition

Standard-setting experience within the Chartered Institute of Arbitrators (London)

Publications (see list)

Conferences given worldwide (see « Conferences » under Experience, International Arbitration)

Specialization and Ph.D.