Codex of Contemporary Art Collector. (Part 7 Interaction with dealers)

Collectors interact with dealers responsibly and transparently, avoiding any stealth, collusion, offensive or exploitative behavior.

Cube.Moscow. 2019

TO RECOGNIZE DEALERS AS RESPONSIBLE FOR INFORMING ARTISTS Collectors require full transparency of transactions and hold Dealers responsible for timely attraction and informing artists about prices, any discounts applied, the identity of the buyer and other details relating to any transaction for the purchase of their works of art using a receipt or other official accounting document.

RECOGNITION OF DEALERS TO IMMEDIATE PAYMENT TO THE ARTIST Collectors ask and hold dealers accountable so that artists receive fair proceeds from any transaction for the purchase of their works of art in a timely manner.

DO NOT REQUEST WORKS BELOW THE MARKET PRICE Collectors deliberately do not use their power or reputation to request works of art free of charge or works of art at a price lower than the market price from dealers. When the Dealer offers a price reduction below the fair market price, the Collectors hold the Dealer responsible for the fact that any such decrease is not covered by the artist's share in the proceeds.

BUYING ART Collectors do not request in advance the purchase of works of art directly from artists if they are represented by the dealer. When a work of art is not transferred to any dealer, collectors follow the artist's instructions on where to purchase a work of art. If you are not sure whether the work of art has been transferred to the dealer, or when the work of art is shown at an exhibition (for example, in a museum), collectors try to ask the artist from whom they prefer to buy a work of art. If a work of art is demonstrated by a dealer, collectors seek to purchase a work of art from that dealer.

DISCLOSURE OF RELATIONSHIPS AND INTERESTS WITH DEALERS If Collectors have influence on the Dealer, they ensure transparent disclosure of information about it. If the Dealer lends to the Collector a work of art to be shown to any audience, whether at the Institution, at the place of residence or in any other context, the loan agreement shall be disclosed to the public. When Collectors are also Dealers or have personal or financial interests in the Dealer, they must be aware of any actual, potential or apparent conflict of interest that may arise. As a result, they promptly resolve and resolve such conflicts properly.

DO NOT PARTICIPATE IN MARKET MANIPULATION WITH DEALERS Collectors should not participate with Dealers in any conduct that is aimed at or can be perceived as manipulating the market of works of art or related transactions, including secrecy, collusion or offensive actions, or any other behavior aimed, for example, at artificially inflating the prices of works of art or putting pressure on Artists and institutions.

WORK IN ART FAIR COMMITTEES When appointing art fairs by members of the selection committees, Collectors adhere to the standards set out in the section of the Code: "Work as members of governing bodies".

Source: www.ethicsofcollecting.org