Code of the Contemporary Art Collector. (Part 3 Creating, maintaining and displaying a collection)

Collectors acquire works of art and responsibly collect their collections, showing caution when storing, preserving and demonstrating works of art. Collectors strive to make works of art from their collection available under appropriate conditions.

COMPLIANCE WITH LEGISLATION, REGULATIONS AND CODES Collectors must comply with all applicable laws, regulations and codes on fair and transparent transactions related to art. They should avoid insider trading, corruption, tax evasion, fraud, anti-competitive practices and any other conduct authorized by applicable laws, regulations and codes. They should not participate in any deals related to art, such as a way of money laundering.

ENSURING THE INTEGRITY AND DURABILITY OF THE COLLECTION Collectors strive to demonstrate, design, store, catalogue, preserve and, where applicable, restore works of art in their collection in the best possible conditions in order to guarantee their integrity and durability in accordance with the expectations of artists, as specified in the relevant certificate or contract.

A. Kasteyev State Museum of Arts

PROVIDING A COLLECTION FOR EXHIBITIONS Collectors strive to make works of art from their collection available to artists, institutions and professionals in order to provide works of art for temporary use and display at exhibitions where the conditions of transportation, storage and demonstration, as well as the exhibition context, are adequate. They strive to systematically advise or inform artists when asked to provide a work of art.

AVOIDING MANIPULATION IN THE MARKET Collectors do not purchase or sell works of art for the purpose of manipulating the market. They are responsible for the consequences for themselves and the artists when acquiring or selling works of art for speculative purposes.

TAKING INTO ACCOUNT THE ETHICAL AND REPUTATIONAL INFLUENCE OF FREEPORTS Collectors take into account the ethical and reputational consequences of storing works of art in freeports and other long-term storage facilities. They respect the integrity of such works of art and ensure that they remain available in accordance with the article: "Provision of a collection for exhibitions." Additional costs specifically related to such services (e.g. reports and formalities) are borne not by artists, institutions and professionals requesting a loan, but by Collectors.

CONCLUSION OF PURCHASE AGREEMENTS When purchasing a work of art, Collectors consider concluding contracts with the artist and/or his legal representatives, which explicitly specify the terms of use, demonstration, reproduction, preservation, resale and any other rights management provisions. Such contracts are aimed at protecting the interests of a work of art and an artist.

PROTECTION OF RESALE RIGHTS FOR ARTISTS Collectors advocate that artists or other non-profit organizations receive a fair share of any profit received from the resale of works of art, regardless of whether it is reselling at auctions, through art professionals, privately, physically, digitally or in any other way.

INFORMING ARTISTS WHEN RESELLING ARTS When reselling a work of art, collectors strive to inform the artist in advance.

STRIVING FOR HIGH STANDARDS IN THE PUBLIC DISPLAY OF THE COLLECTION When Collectors act in the public sphere, for example, by showing their collection, presenting it to the public, making it available to the public in physical or digital form or opening exhibition space, they strive to apply the same standards in terms of transparency and inclusiveness as institutions with a mission of public interest and are aware of their responsibility to the public.

DISCLOSURE OF GIFTED ARTS AT A PUBLIC DISPLAY Collectors strive to disclose if works of art have been presented to them by artists when such works of art are put on public display unless the artist requires otherwise from them.

NFT and BLOCKCHAINS Collectors apply the provisions of this Code when working in an online or digital context, including in connection with non-replaceable tokens (NFTs) and blockchains. Collectors use the transparency and traceability potential offered by these technologies and do not use them to manipulate the market. In particular, collectors strive to use platforms that comply with applicable standards, are ethically responsible and care about the environment, that is, platforms that: promote the transparency of users and verify their identity, provide a reliable control trail, do not engage in tax evasion or money laundering, do not actively undermine the role of other artists (for example, figures Art, curators, dealers and galleries, writers), limit their environmental impact (e.g. carbon neutrality) and ensure that the creators of digital work receive a fair share of the relevant income.

Source: www.ethicsofcollecting.org