Forgery and Fraud: A Collector's Guide to Art Scams
The art world, for all its beauty and creativity, is not immune to deception and crime. Throughout history, a myriad of art scams have shocked collectors and artists alike, illustrating the dark underbelly of this illustrious industry. By examining some notable cases, we can discern ways to safeguard ourselves from becoming victims of such schemes.
Table of Contents
- Recognizing the Fakes
- The Dangers of Provenance
- The Online Auction Trap
- Reproduction or Forgery?
- Over-inflation and Market Manipulation
- Laundering Through Art
- Fake Antiquities and Looting
Recognizing the Fakes
Perhaps the most familiar type of art scam revolves around forgeries. The case of Han van Meegeren, a Dutch painter, remains one of the most notorious instances of this fraud. Van Meegeren succeeded in selling fake Vermeer paintings during World War II, deceiving experts and dramatically impacting the art world. Similarly, Wolfgang Beltracchi, a German artist, created and sold forgeries of works by famous artists for several decades in what became the art world's biggest forgery scandal.
Both cases underline the importance of authenticity verification. Potential buyers should demand detailed provenance – the history of ownership – and possibly seek a second opinion from a qualified art expert or historian.
The Dangers of Provenance
However, even provenance can be manipulated, as illustrated by the Knoedler Gallery scandal. The prestigious New York gallery sold approximately $60 million worth of fake art, primarily because the art pieces were associated with an esteemed collection. This case emphasizes the need for due diligence in verifying provenance claims, including independently tracing the artwork's history.
The Online Auction Trap
With the digital age, art scams have found a new home in online auctions. Fraudulent activity ranges from selling counterfeit pieces to shill bidding, where sellers bid on their own works to inflate the price. Potential bidders should thoroughly research the piece and the seller, and be cautious of prices that seem too good to be true.
Reproduction or Forgery?
Dafen, a village in China renowned for producing high-quality reproductions of classic works of art, brings to focus the thin line between legitimate reproduction and forgery. Reproductions become forgeries when they are sold as originals. Buyers should be cautious of any art sold without an accompanying certificate of authenticity.
Over-inflation and Market Manipulation
The art world can be susceptible to market manipulation, as shown by Yves Bouvier's alleged mark-up of artwork prices before selling them to Russian oligarch Dmitry Rybolovlev. Buyers should seek independent appraisals to ascertain the fair market value of an artwork.
Laundering Through Art
Art's subjective valuation and international appeal can make it an attractive vehicle for money laundering, as seen with Malaysian financier Jho Low. This calls for regulatory authorities to increase transparency and scrutiny in high-value art transactions.
Fake Antiquities and Looting
The allure of ancient artifacts has led to an influx of fakes in the market and looting of archaeological sites. The case of Hobby Lobby's purchase of ancient Mesopotamian antiquities which were looted, serves as a reminder to verify the legality and authenticity of antiquities before purchase.
Conclusion
By educating ourselves and approaching transactions with a critical eye, we can enjoy the enriching world of art collection while avoiding the pitfalls that have ensnared even the most experienced collectors.
