Art Theft
The art market has changed considerably over the last decade. A notoriously secretive market has become more transparent. Technology has also changed the way the art world operates and how collectors store and share data about their collections.
With more data about ownership, location and movement of art in an increasingly connected world, publicity about looted and stolen art has become more prevalent. The most common type of theft is relatively pedestrian and typically not the audacious and meticulously planned art heists from the movies. Most artwork is stolen by those with prior/current access to someone’s property. However, too many collectors and institutions tend to downplay vulnerabilities or take the quickest and easiest route to implement security, often not covering the basics.
In a response to increasing art valuations and a corresponding increase in “grab and run” theft (accounting for over 50% of art losses), I asked Bill Anderson, Founder/Partner of Art Guard, a leader in security solutions for art assets and a preferred partner of Chubb Insurance, to review in our newsletter below the top two misconceptions surrounding art theft.
Best wishes,
Alanna Butera
Head of Appraisals and Advisory, President
Alanna@ButeraArtAdvisory.com | 908-591-5023
NEWSLETTER | June 2021
Myth 1: The Trusted Doormen
Any discussion of security threats to homeowners must further distinguish the type of home. By definition, co-op and condo owners have different threat circumstances. Whether it is the primary residence or a vacation home, most co-op and condo owners’ homes are on higher floors and seemingly more removed from the dangers that single-family homes face. High-rise dwellers may feel they can put much of the responsibility for supervision and protection onto the front desk workers and/or the doormen who screen the comings and goings of service people, staff, guests, and even, in some cases, family members. This offers sufficient peace of mind to most owners, and is usually an effective buffer against any theft events, so much so that most units do not have any type of specific intrusion protection. Stories of residents not even locking their doors are not infrequent. This leaves the responsibility to the trusted staff in the lobby and to those who run the building. But placing faith in that alone to safeguard valuable possessions is simply irresponsible, no matter how familiar, nice, and competent the building management is. Some of the best stories from the FBI files detail art thefts in seemingly carefully supervised buildings.
Myth 2: Tracking Devices
The vast majority of the population anywhere in the world takes for granted that their mobile phone or Garmin GPS device knows exactly where they are at any given time. Car owners have long been familiar with LoJack which is able to announce a stolen car’s location. This leads many people to make the logical leap to think that a technology already exists enabling attachment of a micro tracking device to a piece of art or another object. But at the heart of any number of these devices and gadgets is one common weak link – the battery. LoJack depends on the secret hiding spaces of a car and a fully-working battery! Many are surprised to learn that nearly half of a mobile phone or Garmin device is the battery. Having a device and its battery, which will transmit a location signal from a stolen piece of art long enough to be found, would make it both obvious and removable.
What Can Your Clients Do? The Importance of Layered Protection
Collectors should never rely on one means of defense, but rather focus on properly layered or blended security. While collectors need Art Guard, which focuses on art object-specific security, other home security professionals should be engaged to develop an overall plan and strategy that would also protect other valuables and important property in addition to the art.
About Art Guard
Art Guard was founded in 2006 in response to dramatic increases in art valuations and a corresponding increase in theft. Its products initially addressed the basic needs of galleries and small museums to reduce grab-and-run theft of hanging art. Developments for a more comprehensive solution led to the introduction in 2014 of the MAP technology, a patented wireless sensor designed to protect any stationary asset including: hanging and standing art, antiques, jewelry, historic artifacts, collectibles and memorabilia, regardless of size. Since their inception, MAP sensors and dedicated DIY MAP systems have become the standard in object-specific protection for museums, galleries and private collections around the world.