Particle Foundation: LIITA Document Drop

This is a post to keep the LIITA Particle collector community in the loop around the structures put in place around the Love is in the Air painting.

As everyone is aware, the painting is held by the Particle Foundation who covers the maintenance (and exhibition) costs of each painting.

Please find attached the following documents, pertaining to Banksy’s Love is in the Air.

Insurance

  • Evidence of Insurance (RISK Strategies). This document shows the insurance coverage taken out on LIITA. It is due to renew in September.
  • Insurance Contract pertaining to the above. Please note that we are waiting for an amended version, as this one incorrectly states 4JM (misspelled as 4JN) as the insurer.
  • Change of Name confirmation pertaining to the above.

Storage

  • Storage Contract with the Delaware Freeport –where the LIITA is held whilst not on exhibit.

Certificate of Authenticity

  • While this was already made available (and is included in the metadata of each Particle), here it is attached for good measure.

Any amendments to the above will be amended here accordingly.

Particle Foundation_Evidence of Insurance_RISK Strategies.pdf (926.0 KB)

Insurance Contract_ Waiting for amended version with corectly spelled name.PDF (142.4 KB)

Contract name changes.pdf (61.9 KB)

Storage_Contract_Particle_Foundation_Delaware.pdf (651.4 KB)

4 Likes

This is wild. What’s with the ripped currency?

Pest Control was set up in 2008 and is run by Banksy to authenticate genuine works by the artist. In There is always half of a fake tenner bill stapled to the Certificate of Authenticity. Pest control keeps the other as a match to further ensure no forgery can be made, and verifies the provenance by writing the same set of numbers on each half of the ripped bill.

Read the below article for more background on it, it’s fascinating how this idea came about.

2 Likes

That is such a wonderful, rudiemtary way of proving authenticity of the certificate that shows how sometimes simplicity works. I must admit I do wish provenance and authencitiy was more widely documented on some standarized chain used accross the art ecosystem –similarily to watches. The concept of everyone looking for watches on the secondary market with “box and papers” is ludicrous!

Thank you for sharing the documents. Nothing out of the ordinary from my point of view. I would think we could probably insure the LIITA for the market cap at mint ($15m) though fair market value for the phsyical is probably more around the $6m-$7m mark I would think.