The toolkit is a non-exhaustive compilation of verifications aimed at mitigating risks which can arise in art transactions. It is designed as an “aide-memoire” of the key areas of enquiry when conducting due diligence, identifying various checks which could be considered and/or carried out in particular regarding (1) the parties involved in an art transaction, (2) the artwork and (3) the transaction itself.

The toolkit does not purport to create new standards beyond existing legal obligations or to set a uniform standard to be applied in all transactions. Depending on the circumstances, the suggested checks may not be appropriate, practicable or necessary. Conversely, they may not be sufficient. In all cases, applicable laws should be complied with.

1 — How should the Toolkit be used?

2 — What is a ‘risk-based’ approach and how do I apply it?

3 — What is Due Diligence?

4 — Why is Due Diligence important?

5 — Who should use the checklists?

Checklist 1 — Client due diligence

Checklist 2 — Artwork due diligence

Checklist 3 — Transaction due diligence