A recent trial in the High Court in London has highlighted a few notable truths about doing business in the art world.

The trial centers around a commission allegedly owed to the famous Swiss auctioneer Simon de Pury, who claims to be owed a $10 million commission from the sale of Paul Gauguin’s 1892 oil

The well-known art collector and financier Asher Edelman has instituted a lawsuit in Manhattan claiming that his firm, ArtAssure, was fleeced of over $200 million arising out of an allegedlly fraudulent art transaction.

ArtAssure claims that it was fraudulently induced by the Swiss firm Artmentum to believe that Japan’s Hiroshima Art Museum was trying to

Interesting look here at the other side of the art fraud world.    Forged works often make their way to the market, fooling even the most sophisticated investors and purchaser, but often the HOW the forged work becomes created is not examined.

In the article, Pei-Shen Qian, a Chinese national living in the U.S. discusses creating

In an industry that lacks much in the way of regulation and heavily relies upon privacy, it is no surprise that the sale and transfer of fine art is one of the world’s most popular methods of money laundering. This article takes an in depth look at the world of art and money laundering and

A recent contemporary art auction at Sotheby’s in London brought in more than £74 million, which, according to the Huffington Post, is the auction house’s second-highest total for a February sale of contemporary art in London.

The sale of the auction included works by Andy Warhol, Mark Rothko and Francis Bacon.  According to the article, buyers from

Raphael’s Portrait of a Young Man, looted by the Nazis in 1939 and missing since 1945, has been rediscovered in a bank vault in an undisclosed location.  The painting, which dates to 1513-1514 and is widely considered the most important work still missing since the war, was confiscated from the Czartoryski family collection in

On July 26 federal investigators seized more than $20 million worth of Asian antiquities from Manhattan dealer and gallery owner Subhash Kapoor, who they suspect has been importing looted antiquities from India for several years.  The Manhattan district attorney’s office issued a warrant for Kapoor’s arrest on charges of possessing stolen property. 

 

According to the New York Times, Ileana Sonnabend’s heirs and the IRS will go to Court next month to debate the fair market value of an object that cannot be sold.

Canyon by Robert Rauschenberg includes a stuffed bald eagle, which is under federal protection by the 1940 Bald and Golden Eagle Portection Act and