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The Cost of Fakes: The Aesthetic, Legal, and Economic Implications of Forgeries

Painting courtesy of the United States Attorney’s Office Central District of California

By Emily Ham

Part I: Contextualization of Recent Fakes and Forgeries

25 "Basquiat" Forgeries

In the fall of 2012, an auctioneer named Michael Barzman put up paintings that were marketed as authentic Jean-Michel Basquiat works to be sold on eBay. Original works by Basquiat are in high demand and generate top prices. Jean-Michel Basquiat (1960-88) was a Neo-Expressionist artist who rose to success during the 1980s. He has an auction record of $110.5 million at Sotheby’s Postwar and Contemporary Evening Sale in May 2017.[1]

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Disclaimer: This article is for educational purposes only and is not meant to provide legal advice. Readers should not construe or rely on any comment or statement in this article as legal advice. For legal advice, readers should seek a consultation with an attorney.