The innovations of modern technology have created many opportunities to broaden the art market, allowing more artists, galleries, and dealers to reach a wider range of buyers. However, it has also created new mechanisms by which sham artists can take advantage of unsuspecting consumers worldwide. In her piece “Growth in Online Art Market Brings More Fraud,” Patricia Cohen surveys the online art market, describing the pitfalls of shopping for artworks over the internet. Cohen cites shocking figures and examples of fraud, such as 2,005 fake Giacometti sculptures for sale on one website and an “original” Picasso for a steal at $450. Her article seems to caution that while the internet can and has created legitimate opportunities to expand the art market, it also seems to bring new meaning to the age-old Latin saying caveat emptor or “buyer beware.”
Read the full article at The New York Times.