Consumer protection

The art market rests on information asymmetry. The seller knows the work better than the buyer: its history, its condition, its restorations. This asymmetry justifies special rules, which require the seller to say what they know and to stand behind what they claim.

OIMAP has therefore adopted simple obligations: a faithful description, mention of restorations and provenance, compliance with authenticity guarantees and the possibility of swift remedies.

General consumer law does not always suit art: a work that pleases less after purchase is not defective for that reason. The regulation therefore distinguishes what is a matter of taste, which gives no remedy, from what is a matter of conformity, which does.

Professionals approved by OIMAP commit to a level of protection higher than the legal minimum. This level is a selling point appreciated by foreign buyers.

Consumer protection is also an issue for professionals. A buyer who feels protected buys more willingly, at higher prices and more often. The Observatory's surveys show that approved operators, who apply OIMAP's enhanced guarantees, sell on average at prices 6% higher than their competitors.

Conversely, a poorly handled dispute durably damages an operator's reputation. Mediation, quick and free, is designed to deal with disputes before they fester.