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Why is Provenance important?

Posted On: 05 Dec 2024 by Joseph Trinder to Provenance

The term is often mentioned in the auction world, we take a closer look at why it is significant.

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Why is Provenance important?

Derived from the French word provenir, which means "to come from", provenance refers to the documented history of ownership of an object, such as a work of art. It plays a crucial role in the world of art and antiques by providing context which establishes the desirability and collectability of a piece beyond the market value.

Authenticity:

Knowing where an artwork or antique has come from can confirm that it is genuine and not a forgery. This is particularly important in a market where counterfeit items can significantly undermine value. A detailed recorded journey of when and how a piece was obtained will provide a metaphorical stamp of approval. A painting that has descended through the same family since purchase directly from a famous artist will hold far more authority than an unknown and undocumented work.

Value:

The provenance can greatly influence the value of an item. Artworks with well-documented histories often command higher prices at auction due to their established significance and desirability among collectors. A piece that has been owned by notable figures or featured in prestigious exhibitions carries a narrative that enhances its appeal to collectors.

Consider a 17th century gold ring set with a semi-precious stone. A piece like this will undoubtedly hold value due to the materials and age alone, however, the presence of an inscription together with an irrefutable provenance linking the ring to a historical figure significantly increases the worth. In October this year we had the pleasure of offering such an item for sale. Owned by Sir Matthew Hale SL (1 November 1609 – 25 December 1676), the ring had been in the same family ownership until now.

Hale was a highly influential barrister and judge during the reigns of King Charles I, Oliver Cromwell and King Charles II. He was due to represent Charles I at his State trial, however the King refused to recognise the court's authority and represented himself, resulting in his controversial execution. Cromwell appointed Hale “Justice of the Common Pleas” and when Charles II returned to the throne in 1660, the King made him Hall “Chief Justice of the King's Bench” and knighted him.

The influence that this provenance had on the final hammer price achieved is evident, finding a new home at the final bid of £7,200.

Provenance aids in understanding the cultural and historical context of an item. It provides insights into the artist's intentions, the era in which it was created, and its journey through time. This context enriches our appreciation of art and antiques, allowing us to connect more deeply with them.

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Valuable antiques that have gaps in their provenance are subject to meticulous scrutiny these days in an effort to meet legal and ethical obligations. While a work may have been honestly purchased from a gallery a number of years ago, it may have been unlawfully confiscated during a period of unrest such as the Holocaust.

Galleries, museums and noteworthy collectors will extensively research any potential acquisitions to ensure legitimacy. Documentation that can be used to aid this research includes historical appraisals, valuations, invoices, receipts, bills of sale, catalogues, photographs and much more.

In summary, provenance is not merely a formality; it is integral to verifying authenticity, determining value, and unearthing the rich stories behind these surviving treasures. Collectors should always deal with reputable specialists and seek comprehensive provenance documentation to ensure they are making informed decisions about their acquisitions.