Artwork validating

Any number of favorable analyses chart the prices of pieces by renowned artists like Andy Warhol.

Despite a rapid rise and fall in price during exuberant periods like the 2008 fine art bubble, they outperform the stock market over several decades.

You could say the market for art is “rigged”; a more charitable explanation is that galleries and dealers act as tastemakers, deciding which art is good and therefore expensive.

The end result is to turn artists into brands, which introduces enough certainty for the market to function.

Within a year, several other customers joined him in claiming that their multimillion dollar purchases were The case of these forged masterworks highlights just how difficult it is to pin down the source of art’s financial value.

Until Lagrange complained, the paintings were worth millions, praised as masterpieces, and exhibited to appreciative audiences.

But amidst the uncertainty of subjective taste, how does an artist establishes herself as a million dollar brand?

How can a Manhattan socialite buy a 0,000 abstract painting by an emerging artist without fearing that it will be a tacky, 0 wall decoration in a few years?

She told Freedman that an anonymous collector—a family friend—inherited the paintings and recently rediscovered them.

For over a decade, the gallery resold the pieces for millions and stored its files on the acquired works under the label “Secret Santa.” Pushed for more details about the mysterious collector by employees, Rosales Fifteen years after Roales first approached Knoedler, a Belgian hedge fund manager named Pierre Lagrange received bad news.

Qian painted attractive works in the style of famous artists, yet attaching the names Rothko and Pollock to them increased their value by millions of dollars.

Tags: , ,