Definition
Authenticity refers to the genuine nature of an asset—confirmation that it was actually created by the attributed artist, maker, or manufacturer, and is not a forgery, later copy, or misattribution. For alternative assets, authenticity is often the single most important determinant of value.
Significance in Alternative Asset Valuation
Authenticity directly determines whether an item has significant value:
The authenticity spectrum:
- Fully authenticated: Accepted by scholars, catalogue raisonné inclusion
- Generally accepted: Attributed with reasonable confidence
- Questioned: Authenticity disputed or uncertain
- Rejected: Determined to be fake, copy, or misattributed
Authentication methods:
- Provenance research: Tracing ownership history to the source
- Connoisseurship: Expert visual and stylistic analysis
- Scientific analysis: Materials testing, imaging, forensic examination
- Documentation: Period records, artist archives, exhibition history
An authentic work by a major artist may be worth millions, while an otherwise identical forgery is essentially worthless. This binary nature makes authentication critical for any significant alternative asset transaction.
How Impossival Approaches This
We assess available authentication evidence as part of our valuation process. Our valuations note authentication status and may provide conditional values based on authenticity assumptions when definitive authentication is pending.
Related Concepts
• Authentication - The process of verifying authenticity • Provenance - Ownership history supporting authenticity • Documentation - Records supporting genuine attribution • Fair Market Value - Value contingent on authenticity