ARTSIGNET follows ownership of registered artworks, notifies artists regarding any change of ownership of his listed artworks, and collects royalties, when entitled, on artists behalf if they so wish.
Report Ownership - when an artist reports ownership of his own artwork (or anyone on behalf of the artist), he automatically gets a Certificate of Ownership for free. When a gallery or collector who bought an artwork report ownership of a work of art in their possession, the request is handled by ARTSIGNET subject to service fees.
The gallery or person requesting the certificate is solely responsible for reporting ownership of the artwork. Insurance companies do not tend to insure valuable artwork unless it’s authenticated.
Report a Purchase – as owner of an artwork one should report ARTSIGNET when he sells the artwork to someone else (subject to service fee). Following this report, the new owner is entitled to receive a Certificate of Ownership.
Change Ownership – in case an artwork is not sold but rather handed over as a gift or inheritance, the change in ownership should be reported (subject to service fee) but in such case the artist is not entitled to extra royalties.
European and English laws require reporting of a sale or purchase of artwork. This law will become effective throughout Europe and other international locals. In addition, insurance companies will not insure in the future expensive artworks not registered and related to the owner. Buyers will not buy stolen or fake artworks when the provenance is in doubt. ARTSIGNET is the place to report a purchase, receive a Certificate of Ownership and secure valuable art works.
Artwork stored with ARTSIGNET entitles the copyrights holders to receive payment when it is resold. Insurance companies in Israel will not insure in the near future works of art that are not registered properly. Presently there is no information about art deals in Israel (except for Auction Houses that report resale but do not provide information about the buyers or sellers). In Europe this procedure has been defined by law. Under the British law, for example, the resale royalty kicks in when an artwork is resold for a price of more than €1,000 and is calculated on a sliding scale starting at 4%.
When an owner who is registered with ARTSIGNET sells a piece of art he reports the sale and the details of the buyer. A resale of art entitles ARTSIGNET to a change of ownership fee. The buyer receives a new Certificate of Ownership. ARTSIGNET report to the copyright holders this sale and the royalties payment due to them in accordance with the European community law. All information concerning the new ownership will be kept discreet.