Observe · Regulate · Protect — since 2007. 19th OIMAP General Assembly: Singapore, 10–12 June 2026. Programme
Market

Code of ethics

The ten principles of ethics of the galleries and dealers registered with OIMAP.

Updated : October 28, 2026· 3 min read

Ten principles of conduct

Vanity Case (Nécessaire) (c. 1760)
Vanity Case (Nécessaire) (c. 1760)

The code of ethics sets the rules of conduct for galleries and dealers registered with OIMAP. It applies to all registered professionals, whether labelled or not.

Adopted in 2015 and revised in 2021, it covers relations with artists, clients, colleagues and the authorities. It rests on transparency, honesty and respect for heritage.

This page presents each of the ten principles, its practical consequences and the possible sanctions.

  • Ethics
  • Principles
  • Sanctions

Code of ethics in figures

10Principles
2015Year of adoption
3,450Signatories
42Cases judged in 2024

Source: OIMAP Observatory.

Breakdown

Insufficient information36%
Missing documents29%
Non-transparent prices18%
Other17%

Grounds of complaints judged in 2024.

The ten principles

Integrity: sell only works whose lawfulness has been checked. Transparency: inform the buyer of what is known about the work, its condition and its restorations. Authenticity: present as authentic only what one has serious reason to believe so. Provenance: consult the BIOP database and keep supporting documents.

Loyalty: respect one's commitments to artists, colleagues and clients. Confidentiality: protect the identity of buyers and sellers. Prudence: refuse suspicious transactions. Compliance: respect tax and customs legislation. Cooperation: cooperate with the authorities and OIMAP. Training: maintain one's knowledge.

The Calumny of Apelles, Giorgio Ghisi (1560)
The Calumny of Apelles, Giorgio Ghisi (1560)
The Four Seasons, Kano Tan’yū (1668)
The Four Seasons, Kano Tan’yū (1668)
The Antechamber of the Palace of Justice, Paris, Charles Meryon (1855)
The Antechamber of the Palace of Justice, Paris, Charles Meryon (1855)

When the code is applied

The code applies first by example: the Secretariat publishes anonymised cases and practical guides. It then applies through mediation: any dispute between a client and a professional may be submitted to an independent mediator.

As a last resort, an ethics commission may impose sanctions: warning, suspension, striking off. Its decisions are published, with the possibility of appeal to the Arbitral Tribunal.

The code and artists

Three principles directly concern artists: loyalty (respecting representation contracts), transparency (communicating prices and sales) and prudence (not selling at a throwaway price). Artists may bring a matter before the commission in case of breach.

The commission thus sanctioned in 2024 three galleries that had sold artists' works without paying them the agreed share. These decisions, rare but public, remind us that ethics also protect creators.

Available sanctions

Scale of sanctions
SanctionTypical casePublicity
WarningMinor breachNot published
ReprimandRepeated breachPublished without name
SuspensionSerious breachPublished with name
Striking offProven fraudPublished and passed to the authorities

Landmarks

  1. Adoption

    First code.

  2. Ethics commission

    Creation of the body.

  3. Revision

    Addition of online sales.

  4. 42 cases judged

    Annual publication.

Market trust

Code and law

Portrait of Georges Arnold Fitzwilliam, Charles Balthazar Julien Fevret de Saint-Mémin (c. 1790–1852)

The code

Professional requirement
  • More demanding than the law
  • Mediation and internal sanctions
  • Evolves faster

Complements the law.

Sketches in Belgium and Germany, Volume I: Hall of Justice of the Magistrates du Franc, Bruges, Louis Haghe (1840)

The law

Legal obligation
  • Criminal or civil penalty
  • Enforced by the courts
  • Evolves slowly

Minimum framework.

Saucer with Scene in style of Watteau (c. 1750–60)
Saucer with Scene in style of Watteau (c. 1750–60)
The Judgment of Solomon and Esther before Ahasuerus (pair), Dirk Vellert (c. 1530)
The Judgment of Solomon and Esther before Ahasuerus (pair), Dirk Vellert (c. 1530)
Portrait of a Man, Gustave Caillebotte (1880)
Portrait of a Man, Gustave Caillebotte (1880)

Handling a breach

  1. Complaint

    Filed by a client or a colleague.

  2. Mediation

    Attempt at amicable settlement.

  3. Investigation

    Examination by the commission.

  4. Decision

    Sanction or dismissal.

  5. Appeal

    Possible before the Arbitral Tribunal.

Complying with the code

A commission chairman

The Market Place, Wells, Muirhead Bone (1891–1953)
« A code is worth what one is prepared to do with it. We prefer it to be demanding and applied, rather than brilliant and ignored. »
Atty. Laurent Hubert, chairman of the ethics commission

Vocabulary of ethics

Ethics
Set of rules of conduct of a profession.
Commission
Body that judges breaches.
Striking off
Removal from the list of registered professionals.
Loyalty
Respect for one's commitments.

Frequently asked questions

Does the code apply to unlabelled professionals?

Yes, to all registered professionals.

Where can I read the full text?

In the useful documents, as a PDF.

Can a sanction be challenged?

Yes, before the Arbitral Tribunal.

Who refers a matter to the commission?

Any client, colleague or authority.

Useful documents

Contacts

A Palace with an Arched Bridge (A Roman Villa), Hubert Robert (1760)
A Palace with an Arched Bridge (A Roman Villa), Hubert Robert (1760)
OIMAP ObservatoryParis — Headquarters+33 1 00 00 01 00observatoire@oimap.exampleMonday to Friday, 9 am – 5 pm

Back to the section

Portrait Head of a Noble or Official (175–200 CE)

Review galleries and dealers.

Galleries and dealers
Image credits (16)
▲