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Julian Radcliffe

Reducing Theft and Avoiding Fakes 10 th April 2013. Julian Radcliffe. Contents. Balkans Strategy Fakes/ Fraudulent Claims Due Diligence Searching Watches/ Diamonds. Balkans Strategy. History Opportunity EU/NATO Economic Crime Corruption.

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Julian Radcliffe

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  1. Reducing Theft and Avoiding Fakes 10th April 2013 Julian Radcliffe

  2. Contents • Balkans Strategy • Fakes/ Fraudulent Claims • Due Diligence Searching • Watches/ Diamonds

  3. Balkans Strategy • History • Opportunity • EU/NATO • Economic • Crime Corruption

  4. NEGOTIATIONS UNDER DURESSPublic Policy Principles • No negotiations unless police approved • No ransoms to thieves • Minimise payment to informers/middlemen • Maximise intelligence/convictions/recoveries • Payments to good faith buyers may be significant

  5. COMPENSATION SPECTRUM 100% Value of Objects Amount Paid For Surrender/ Settlement 50% Sensitive Area 5% Good Faith Purchases/Private Collector Criminals Who Steal Extortion Handlers Rewards Information Art Trade Searching

  6. Factors influencing payment Reduce percentage for: • Higher Value • Recent thefts • No convictions • Less Intelligence But: • Danger of destruction • Ease of selling e.g. gold content • Removal of currency

  7. Case studies: R1200 Mondrian • Serbian theft from Rotterdam registered in 2002 • Due diligence searching internet • Posed as buyer/ payment • Recovery Canada/ Serbia/ Belgium/ France • No claim Piet Mondrian, Riverscene, oil on canvas on panel

  8. Case studies: R1367 • Theft Paris • French Police operation Serbia • Recovery min payment George Rouault, Female Nude, oil on canvas

  9. CASE STUDIES: R 1315 • Theft in Oberwil Switzerland • Insurer suspicious • Items in Serbia inflated values.

  10. Fraudulent Art Claims prevented/ fakes database / proved by recovery • Noortman £1m staged theft • California $22m staged and inflated • Jewellery – Diamond ring, claims sold by owner Willem van de Velde II, seascape, oil on canvas

  11. Due diligence searching300.00-400.000 checks by ALR per annum For: • Auctions • Dealers • Fairs • Police • Internet • Underwriters to encourage

  12. Central Database • ALR established in 1991, worlds largest database of over 360,000 art, antiques and collectibles • Registration, searching, Identification & restitution of stolen works - market value in excess of £100 million Aims: • Providing a central “checkpoint” for purchasers and buyers • Identifying and recovering stolen, missing and WW2 works of art • Reducing theft/trade in stolen art by impeding the potential resale • Reducing loss ratio for the insurance industry

  13. INFO AND THEFTS CHECKS MANUFACTURER • DEALERS • AUCTIONS • DATABASE • REAL NUMBERS • FAKES • STOLEN INSURER INTELLIGENCE POLICE COLLECTOR Watches Proposed database

  14. Damages • Bakwin 3 million dollars • Noortman circa 5 million pounds Paul Cezanne, still-life with apples, oil on canvas

  15. Diamonds • Identification • Certification • Marking • Gemprint

  16. Gemprint

  17. The Future • Reduce theft by making selling on uneconomic. • Due Diligence searching • Increase fake checks on items insured • Pursue Damages

  18. Virtuous circle • Need for collective action • Role of leaders • Competition

  19. Reducing theft and Avoiding Fakes Julian Radcliffe Chairman – The Art Loss Register

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