Prices, value and authenticity

Catalogue raisonné

What is a catalogue raisonné?

A catalogue raisonné is a scholarly publication that sets out to map and describe in detail every single work a given artist made during their lifetime, or which is attributed to them. For each work it gives the provenance (the documented chain of previous owners), exhibition history, literature, condition and technique. Its main purpose is to verify authenticity, and it is the product of long-term research over many years.

Why is the catalogue raisonné so important for the market?

Because it is often what decides whether a work is genuine. If a work is not listed in the catalogue, collectors and auction houses treat it with great mistrust, which can lead to the complete loss of its value. Catalogues are therefore updated regularly and investors pay them exceptional attention.

Who compiles catalogues raisonnés?

They are put together by recognised specialists, research teams or foundations that manage a particular artist's legacy — the Andy Warhol Foundation for the Visual Arts, for example. For some great names, such as Chagall or Renoir, the authenticity of individual works is stamped by specialist authentication committees. And their verdict carries great weight on the market.

How does the catalogue raisonné stand in the Czech context?

In the Czech context, catalogues raisonnés often appear with a considerable delay, commonly decades after an artist's death. That has consequences: all the more attention has to be paid to provenance and expert assessment. Documentation tends to be better for modern art, while with older works the risk of forgery is naturally higher.

Is it worth checking the catalogue raisonné when buying?

Absolutely — for collectors and investors alike it is one of the first reference tools. A work that appears in the catalogue sells far more easily, while a work outside it tends to be hard to sell, and with some artists practically unsellable. So before you commit to a purchase, it is always worth checking whether the particular work is entered in its artist's catalogue raisonné.

— Anna Pulkertová, founder of Art Part Club