How does the art market work in Switzerland and what are the typical contracts used?
The art market in Switzerland is an important and dynamic market that attracts collectors, dealers, galleries, and museums from all over the world. The main centers of art in Switzerland are Geneva and Zurich, which are home to numerous art galleries, museums, and international art fairs.
In Switzerland, the most commonly used standard contracts in the art market are the contract for the sale of works of art, the consignment sales agreement, the loan agreement for works of art, and the storage agreement for works of art.
The contract for the sale of works of art is a contract in which the seller undertakes to transfer ownership of a work of art to the buyer in exchange for payment. This contract must generally be in writing and specify the details of the artwork, the sale price, the payment terms, and the warranties offered.
The consignment sales agreement is a contract in which the seller entrusts the sale of a work of art to a third party, usually an art dealer. The contract must specify the details of the artwork, the terms of the sale, the commissions due to the third-party seller, and the warranties offered.
The loan agreement for works of art is a contract in which the owner of a work of art lends it to a museum or gallery for a temporary exhibition. The contract must specify the details of the artwork, the duration of the loan, the transport and insurance arrangements, as well as the warranties offered.
The storage agreement for works of art is a contract in which the owner of a work of art entrusts it to a third party for temporary or permanent storage. The contract must specify the details of the artwork, the storage arrangements, the security and insurance conditions, as well as the warranties offered.
In case of counterfeiting of a work of art, possible remedies in Switzerland include legal actions for violation of copyright and intellectual property rights. Swiss courts may order the cessation of production and sale of the counterfeit, as well as the payment of damages to the owner of the original work. Professional organizations in the art market, such as the Swiss Chamber of Experts in Works of Art, can also play a role in resolving conflicts related to counterfeiting and intellectual property.