I loved this book, all the art references and the art processes explained here are catnip to me. I love museums and art, therefore any book mixing both its going to my criteria. The only reason I'm not giving it 5 stars is because I hated the main characther personality , (so much so that I was rooting for her to get in trouble) but I guess all is well that ends well!!! :) I am completely satisfied with this book!
Open a foreign bank account in a tax haven like Switzerland or the Cayman Islands. Banks in these countries are not required by law to hand over information about your account to anyone without your consent. If you open what's called a “numbered account” in a private Swiss bank like Union Bank of Switzerland or Credit Suisse Group, a number or code name will be associated with the account, rather than your name. To open a numbered account, you will most likely need to travel to Switzerland to do it, though if this is impossible, there are firms that help people set up off-shore bank accounts that can help you. You will most likely need to make an initial deposit of at least $100,000 to open the account, which will cost roughly $300 a year to maintain.
Even as far back as ancient Rome, Mr. Nagel shows, it was considered utterly normal to copy the Greek statues of Praxiteles or Polyclitus, even while altering them. Patrons wanted access to the larger aesthetic ideas and ideals of their artistic geniuses; they didn’t think of works of art “as singularities, as unrepeatable performances by an author,” as Mr. Nagel puts it.
Philip Byler, Broadening’s lawyer in New York, said that the inaccurate invoices were merely a shortsighted attempt by the art dealer that Broadening hired to save importation fees. “It was not done with the intention of smuggling,” he said. He also challenged the Brazilian authorities’ claim, saying that “Hannibal” was legally purchased from a company owned by Mr. Ferreira’s wife.
Money obtained illegally—from fraud, embezzlement, bribery, etc.—needs a hiding place. A huge deposit into a bank account, with no clear indication of where that money came from, is a red flag for the IRS. So instead of depositing dirty money, or holding onto it as cash, disreputable people will often turn the money into something else (cars, mansions) or filter it through a business so it comes out the other side looking like the profits of a legitimate enterprise.
The anonymity of buyers is also a huge advantage for criminals. Who hasn’t seen the images of an art auction for a famous painting at Christie’s or Sotheby’s, where brokers are on the phone with mysterious clients? Art market operators generally refuse to disclose the identities of their clients under the guise of “protecting the integrity of the transactions.”
For museums and the art trade provenance has increasingly important, not just in the older way where establishing the authorship and authenticity of an object was the main concern, but in establishing the moral and legal validity of its chain of custody, given the increasing amount of looted art. This first became a major concern regarding works that had changed hands in Nazi-controlled areas in Europe before and during World War II. Many museums began compiling pre-active registers of such works and their history. Recently the same concerns have come to prominence for works of African art, often exported illegally, and antiquities from many parts of the world, but currently especially in Iraq, and then Syria.