James A. Bond

by James A. Bond, ARCA Class 2011

"Capital is money, capital is commodities. By virtue of it being value, it has acquired the occult ability to add value to itself. It brings forth living offspring, or, at least, lays golden eggs." 

“Capital is that part of wealth which is devoted to obtaining further wealth."

1) Governments will continue to refine currency transaction laws governing the movement of M2 to further restrict funding for terrorism and control the profits generated by transnational crime. 

2) New sources of revenue will be needed by governments to replace the revenue lost in the wake of the 2008-2009 financial crises and to fund entitlement programs that will be fully populated in this decade as the baby boomers retire. This will be an ever-growing problem for many nations for a variety of reasons including; underfunded entitlement programs, immigration policies, national demographics, and excessive national debt service requirements. 

3) The risk of inflation, which always realigns capital allocations. 

4) The process of adjusting to an evolving world order, which will require integrating an ever more prosperous and populous India and China and their growing middle class as they begin to accumulate assets and enjoy their new wealth.

James A. Bond

ARCA blog: What about the ARCA program attracted you?

Mr. Bond: Diversity of subjects covered, quality of professors, mission of ARCA, and of course the fact it was being taught in Italy. 

ARCA blog: What would you like to do after you have completed your studies? 

Mr. Bond: Start an insurance-security business focusing on private art/collectibles collections. 

ARCA blog: What area of research do you anticipate following as part of the program? 

Mr. Bond: Insurance for private collections and traveling museum exhibits. 

ARCA blog: I enjoyed reading your thesis. Please tell our readers what drew you to this subject and what surprised you about your research and the material? 

Mr. Bond: In the summer of 2009 I was taking a Transnational Crime class as part of my Global Affairs curriculum at NYU and we all had to make presentations on some aspect of Transnational Crime. One of the students did her presentation on art crime and mentioned the New York Times article about ARCA's Postgraduate Program in Art Crime. With my background in security I knew that would be my next educational experience.

When I wrote my thesis for my MS in Global Affairs I wrote on "The Use of High Value Art and Collectibles to Launder and/or Transfer Capital". Being in New York and living in the financial district during the chaotic fall of 2008 and then watching Greece and Ireland suffer sovern debt problems got me thinking about how to best preserve capital and move it if the need arose.

I interviewed many people from FBI agents (3) to collectors, gallery owners, and people in finance. I was surprised at how unwilling gallery owners, collectors were to talk about the concept (read in my thesis about the NO, NO answer the stamp collector gave me) while on the other hand people in security and finance grasp it readily.

Michelle Edelman

ARCA blog: Michelle, what is your favorite period of art and how did you get interested in studying art crime?

Ms. Edelman: My favorite period of art is the 19th century and more specifically Victorian painting, which is what I did my masters in. I've always had a passion for art history and a love of mysteries. Studying art crime seemed like a perfect combination of my two interests. I particularly enjoyed learning about Adam Worth, nicknamed the Napoleon of Crime, who was a 19th century art thief famed for stealing Thomas Gainsborough's "Georgina, the Duchess of Devonshire." Adam Worth was an international thief who had both Scotland Yard and the American Pinkertons hot on his trail. It was a classic cat and mouse game between Adam Worth and William Pinkerton. In the end, William Pinkerton recovered the painting. And to put an even neater bow on the story, Adam Worth's son ended up working for the Pinkerton Detective Agency. Ben Macintyre's book "The Napoleon of Crime" was one of the many great art crime books I was exposed to while on the ARCA course.

ARCA blog: What did you find most valuable in your ARCA experience?

Ms. Edelman: Getting to meet with and learn from so many experts in the field was invaluable. Art crime study and investigation is a small and tight knit field but is such an important one to promote because the impact of art crime is wide ranging. From Nazi looted art, to forgeries, to excavation robberies, cultural heritage is being endangered, the black market is being fed, and crime in general is prospering. 

It was such a treat to hear firsthand accounts of art crime and its consequences from the founder of Scotland Yard's Art Crime Squad team, Dick Ellis. He was someone I knew I wanted to keep in touch with from the program. And when I settled in to New York, I was thrilled to learn that I could help Dick Ellis on a case he was currently working on. To me, art history is like a detective novel. But here was an opportunity for me to get involved in a real life case. What was at stake was the authenticity of a work by Jean-Michel Basquiat. My research took me to the National Archives in DC. There was a label on the back of the work that suggested that it had been purchased by a now closed gallery in New York. I poured through their records to discover no such trace of that particular Basquiat piece having passed through the gallery. However, I contacted the gallery owner who authenticated the proof of sale document from the gallery in NYC to a gallery in Germany, but denied ever having the Basquiat work in his gallery. Something was amiss. In the end, the work in question turned out to be a fake. The art market is a slippery snake and this case highlighted the importance of provenance research. A little research goes a long way.

ARCA blog: You speak Italian and were able to travel through parts of Italy. What stood out to you during your travels?

Ms. Edelman: Well I speak French and Spanish fluently. I was therefore able to pick up a bit of Italian. This did make getting around easier. For anyone interested in art history, the Uffizi in Florence is a must. It was interesting going there after our segment on museum security with Anthony Amore. I started to look around for cameras, light sensors, looking at how the pieces were secured to the wall, and observing the museum guards at work. I've been looking at museums in a different way ever since.

ARCA blog: What has led to your interest in art insurance and what kind of career do you want to pursue?

Ms. Edelman: Working on the Basquiat case lit my fire for provenance research. It is something that is essential and too often easily overlooked. Whatever I end up doing in the field, I know that provenance research is something that I will incorporate fully. I love the idea of research and hands on art crime solving. I seriously thought about joining the FBI, but the idea of wielding a gun just didn't feel like the right fit for me, liberal San Franciscan that I am. And I would never be successful undercover because I'm just about the worst liar there is. Art insurance is still a hands on way of getting involved with solving art crime but from a safer, more behind the scenes stand point.

Penelope (Pitt), Viscountess Ligonier
1770
Canvas, 94 1/2 x 61 3/4 in. (238.76 x 156.85 cm)
11.29

Provenance:
Painted for the sitter's father, George Pitt, later 1st Baron Rivers, of Stratfield Saye, Hampshire, and Sudeley Castle, Gloucestershire; by descent to Horace, 6th and last Baron Rivers; General Pitt-Rivers of Rushmore, Salisbury, 1880; A.C. Rivers; W. Pitt Rivers; Charles John Wertheimer of Norfolk Street, Park Lane, c. 1908; sold by his trustees to Duveen, 1911; acquired by Henry E. Huntington, 1911

Rahotepova tomb/Photo by Martin Frouz, FF UK (http://zpravy.idnes.cz/bohyne-poradku-opustila-egypt-pise-archeolog-barta-z-expedice-p65-/zahranicni.asp?c=A110314_084459_domaci_jw)

• Direct the Department of Homeland Security and other law enforcement agencies to use their authority to prevent illegal trade in Egyptian cultural objects;
• Direct the Department of State and the U.S. Customs and Border Protection Agency to implement import restrictions on undocumented artifacts from Egypt;
• Direct the FBI, Immigration and Customs Enforcement and Homeland Security Investigations to coordinate with foreign counterparts to initiate targeted law enforcement operations to seize stolen cultural property, arrest criminals and seize and confiscate proceeds; and
• Direct the U.S. Agency for International Development to grant additional funds for protection at archaeological sites. 

In addition, the Institute encourages the: 

• International Criminal Police Organization to use its telecommunications system with respect to possible crimes involving Egyptian cultural property and to identify suspicious financial transactions which can lead to the freezing and confiscation of proceeds; and
• U.S. Congress to designate funds for the protection of Egyptian antiquities as part of its economic aid package.

ARCA Blog: Via email, Dr. Cline answered a few questions for this blog. Do you believe today that archaeological sites across Egypt are still largely unprotected? We’ve all seen reports that some of the storerooms with artifacts from these sites have been broken into in the last month with priceless objects stolen.

Dr. Cline: There is no question that it has been a challenge guarding archaeological sites during the events of the last three months. We are hearted by the response of many of the Egyptian people who, on several occasions, have even risked their lives to protect these antiquities. That said, until the regular police returns in full force, combined with strong, armed tourist policy, we expect to see the looting continue.

We continue to receive information about break-ins and attacks. For example, there are reports that armed groups have been digging for ancient artifacts at the Garza archeological site in Fayoum and have broken into a storeroom at the site of Tell ed-Daba’a in the Delta as recently as this week. Here are some links, with pictures:

http://zpravy.idnes.cz/bohyne-poradku-opustila-egypt-pise-archeolog-barta-z-expedice-p65-/zahranicni.asp?c=A110314_084459_domaci_jw

http://www.artsjournal.com/culturegrrl/2011/02/news_flash_detailed_report_abo_1.html

http://www.almasryalyoum.com/en/node/379337

http://luxortimesmagazine.blogspot.com/2011/04/masked-men-attacked-storage-in-delta.html

ARCA Blog: Two weeks ago in Paris UNESCO met to commemorate the 40th anniversary of the 1970 Convention. How effective do you think UNESCO can be in a situation of civil unrest as in Egypt?

Dr. Cline: UNESCO has a very important role in bringing world attention to the looting not only in Egypt, but around the Middle East in this time of unrest. We look to them to play a leadership role in bringing to bear the various financial and law enforcement tools available worldwide to not only halt the looting, but strike at those willing to cooperate with the looters. 

The challenge is that we are facing an emergency situation in Egypt which requires swift and immediate action. We praise the UNESCO for sending out a delegation to examine the situation, but hope that it will bring about real results in the near term. The looting is detrimental to our common cultural heritage, but also harmful to Egypt’s largest source of revenue -- tourism.

ARCA Blog: What has been the response to your initiative from archaeologists and the government agencies named such as Homeland Security and the Department of State?

Dr. Cline: We launched our call to action to try to bring together the various parties who have an ability to halt the looting, and strike at those who might cooperate with the looters. The response from archaeologists, especially the Egyptologists to whom we have reached out, has been overwhelmingly positive. In addition, the US government has been supportive. While they are willing to work cooperatively with the Egyptian government and the archaeologists on this pressing issue, the State Department’s cultural heritage bureau can take official action only after a request from the Egyptian government. Once this occurs, which we hope will take place in the very near term, the State Department will be able to work with Homeland Security and other law enforcement agencies to introduce emergency import restrictions against undocumented artifacts from Egypt.

ARCA Blog: What would you like to see happen in the next few months to secure the archaeological sites in Egypt and to stop the looting of antiquities?

Dr. Cline: Steps need to be taken to secure the archaeological sites and storerooms, and to stop the looting of antiquities as well as to prevent their subsequent sale. We believe that the Egyptian government will make protection of these sites a top priority, even during this time of transition, as it is not only a question of protecting our common heritage, but protecting Egypt’s main source of revenue -- tourism. In addition, we hope that governments around the world will use the various law enforcement tools available -- including import restrictions -- to halt the transport and sale of undocumented antiquities. Given the economic nature of this problem, any economic aid packages to Egypt should include appropriations to help protect these priceless sites. Finally, our goal is to work with the Egyptian government to set up training programs to help Egyptian law enforcement officials and others establish “best practices” in cultural heritage enforcement around the world.

ARCA Blog: What can our readers do to help?

Dr. Cline: We appreciate the wonderful support to date for our call for action. We would like to ask your US readers to sign our petition, http://www.gopetition.com/petition/44079.html, and encourage their local congressional representatives to include antiquities protection in the economic aid package for Egypt. Archaeology students in Egypt could help in assessing damage to sites and storerooms. We also appreciate receiving any information about the looting and other ways to raise public awareness of this critical challenge.