[Crm-sig] HW for SOC - Financial Transactions

Robert Sanderson RSanderson at getty.edu
Thu Jun 13 11:44:40 EEST 2019


Dear all,

My HW to provide raw data and data dictionary for our provenance information that includes financial transactions is very easy, as we have published these in a github repository:
    https://github.com/thegetty/provenance-index-csv

The current UI to the dataset is accessible via:
  http://www.getty.edu/research/tools/provenance/search.html
(the below examples are in dealer stock books, specifically Knoedler. Search for the PI Record Number in the bottom field of the form)

We are in the process of transforming the data into CIDOC-CRM, with a new UI.


To extract two specific examples, one very easy and one more complex.

PI Record K-24263 documents two Purchases of the same object, a painting called “King Saul” by Rembrandt.


1.       The acquisition from Andrew W. Mellon, during November 1922, for 8000 dollars.

2.       The sale to Chester H. Johnson, on May 9th, 1923, for 14500 dollars.

This works well with a soc Payment class, mirroring Acquisition, modeling the transfer of MonetaryAmounts from the payer to the payee. There’s no real need for Obligations and Contracts for this case.


And more complex:

PI Record K-20484 also documents two Purchases of the same object, “C’est lui” by Detaille.


1.       The acquisition from an unknown party, on April 30th 1912, by three parties BVC & Co, Tooth, and Knoedler, for a total of 10010 francs, split three ways evenly.

2.       The sale to Boussod, Valadon et Cie (the BVC of the previous acquisition) during May 1919, for a total of 1995 francs, through which Knoedler received 347 dollars.

Here Obligation and Contracts are useful. There was an agreement between BVC, Tooth and Knoedler to fulfill the obligation to pay 10010 francs. Each made a payment that reduced the obligation to zero. We do not know the order however, as to /which/ payment reduced it to zero and thus terminated it, just that the set of three payments did terminate it.

Similarly, that agreement for 1/3rd shares meant that the sale to BVC was actually that BVC bought out the shares of Tooth and Knoedler. The result is that BVC owns 100% of the painting, rather than 33% of the painting.

For this we would need to have the Rights discussion integrated, with the ability to partition them such that someone can own a share of an object rather than only the entire object, and that either those shares can be traded or can come in and out of existence as the shared portions change.  There are thousands of records in our stock books that have this sort of form, sometimes between the same parties, sometimes different. Sometimes the shares are evenly split, sometimes not.


Rob


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