Book Review: Caveat Emptor: The Secret Life of an American Art Forger (2012) by Ken Perenyi

August 29, 2024

By Caitlin O’Hare

Caveat Emptor: The Secret Life of an American Art Forger is a first-hand account by Ken Perenyi, who built a lucrative career out of art forgery, living a life of luxury while duping countless people along the way. For those curious about how one might get away with art forgery and become incredibly wealthy in the process, Perenyi outlines exactly how he did it. When the book was released in 2012, it shocked the art world, sending ripples through major auction houses and galleries worldwide. A self-taught artist had come forward to confess—brag, even—and share his methods, all because he could.

Apparently, the statute of limitations had expired on his crimes. Perenyi’s story is extraordinary, leaving readers to question the authenticity of the art they see in galleries and museums. How can we ever truly identify the work of a master? And do Perenyi’s skills make him a master in his own right?

Forging a Path in Forgery

Perenyi, hailing from New Jersey, describes^[1] a youth marked by mediocre performance in school, a lack of ambition, and frequent trouble due to daydreaming and drawing. He grew up with the awareness that “New York City was the center of the entire world,”^[2] and it was there, in this bustling center, that he met the counterculture art enthusiasts who would inspire and encourage him to pursue art forgery for over 30 years. Perenyi began painting during the Summer of Love in 1967, and the early part of his story brings to mind Patti Smith’s Just Kids; (see here for information on Just Kids) with Perenyi and his friends hanging out in a Warhol Factory-esque building they called the “Castle.”

Perenyi’s fascination with forgery began after reading about Han Van Meegeren, the Dutch art forger of the 1930s who successfully created a new genre of Vermeer paintings. Inspired, Perenyi confided to a friend that he believed he could replicate the masterpieces found in museums^[3], and he quickly became addicted to the thrill of selling fakes for cold hard cash. Initially, these forgeries were “the only thing” keeping him from starvation, but soon he made sure to always have a few “Dutch” paintings ready to sell.^[4] He eventually apprenticed with an art restorer, mastering the technical aspects of the craft, which naturally led him to pursue forgery full-time. Before long, he became a master at replicating 18th- and 19th-century American art, producing “Heades,” “Kings,” and “Buttersworths” that eventually appeared at prestigious auctions like Sotheby’s and Christie’s. The book details Perenyi’s techniques, such as baking paintings in the sun or coating them with rotten stone^[5] or rabbit skin glue^[6]. Despite his criminal activities, Perenyi remains oddly humble, critiquing how art professionals and the ultra-wealthy determine what is and isn’t valuable, leaving readers to question the value we place on art. However, some may argue that his story is devoid of remorse.

Having perfected his craft, Perenyi developed sophisticated systems, often having others sell his paintings on his behalf. He built a network of criminals who knowingly sold his forgeries. As the market became saturated with his Dutch and Flemish fakes, Perenyi crossed paths with Jimmy Ricau, an eccentric American art collector. Ricau, who held disdain for art dealers, encouraged Perenyi to pursue forgery as a form of revenge against the art world. Ricau’s passion for American art left a strong impression on Perenyi, leading him to replicate works by artists such as George Catlin, John F. Francis, Antonio Jacobsen, and William A. Walker, among others.

Perenyi’s forgeries began appearing at auction houses worldwide, emboldening him to start consigning his fakes directly. He frequently travelled to London with suitcases full of his forgeries. His most successful sales were fraudulent Martin Johnson Heade paintings featuring hummingbirds and orchids, with one selling for $90,000 at Christie’s in London and another fetching $717,500 at Sotheby’s. In the 1990s, the FBI launched a five-year investigation into Perenyi. However, by then, Perenyi had begun selling his works as reproductions, claiming he never said they were originals. Throughout the investigation, Perenyi grew suspicious of old associates who resurfaced, fearing they might be wired to incriminate him. He hired a lawyer and ultimately was never charged. In the book, Perenyi speculates that auction houses likely worked to delay or hinder the investigation to avoid public humiliation and potential financial liability when buyers learned of the forgeries.

Impressions

What one takes away from Caveat Emptor will largely depend on the reader’s feelings on art crime. Some will find the book perverse, boastful and unfair. Others will delight in the story, as art scandal has that ability to captivate and amaze us. One will either be impressed by Perenyi’s talents, or convinced he is a criminal bragging about his genius. Perenyi’s ability to recall past events including who was involved and who did what is brilliant. Caveat Emptor must be a terribly difficult read for professional appraisers and authenticators in the art world, as it details how forgers can deceive even the most seasoned experts, revealing the eagerness of many to obtain a “masterpiece” at any cost. The book exposes blindness in the art world. The story is remarkable – just like Perenyi’s talents.

About the Author

Caitlin O’Hare is a past Intern of the Center for Art Law, a lawyer practicing in the UK, interested in art law and intellectual property law.

Bibliography:

1. Perenyi, Ken. Caveat Emptor: The Secret Life of an American Art Forger (2012) Pegasus Books, page 4 ↑
2. ibid ↑
3. ibid, page 22 ↑
4. ibid, page 93 ↑
5. ibid, page 57 ↑
6. ibid, page 60 ↑