Risks of Fraud in Booming Art Market
Alert investors and cultural status seekers have joined forces to create a bullish market for arts and antiques. A recent survey by the Times of London and Sotheby's, a leading British auction house, showed that the value of paintings by six artists of the impressionist school had risen ten times over since 1950–52.1 During the same period, stock market prices rose only about three and one-half times. Although the impressionists are the stars of the current market, the over-all demand for original paintings and prints, antique furniture, and art objects so far outstrips the supply of genuine articles that traffic in fakes and forgeries of all kinds also is flourishing.
Because more collectors with money come on the art ...