Due diligence forms an essential part of art transactions. Investigating and obtaining as much information as possible about the parties to the proposed transaction, the artwork and the transaction itself protects art businesses and collectors and helps art businesses manage their reputational and financial risks. Gathering and holding such information may entail additional responsibilities particularly in terms of data protection where personal information relating to individuals is concerned.
Raising awareness of risks faced by the art industry and providing practical guidance on establishing and implementing responsible practices to address those risks.