Rapid and dramatic rises—and collapses—in price are bad things for money laundering whose sole purpose is to find a relatively stable vehicle to mask the source of funds. Money launderers are not looking to make a profit on their purchases let alone a killing. In fact, a money launderer is willing to take a loss on the vehicle that hides the illicit source of the funds because that is the price of washing the money. If a money launderer buys something with dirty money that has the potential to be unsalable for clean money, it doesn’t work. Art, even some of the world’s best art, is often temporarily unsalable for a variety of real and legitimate reasons.
All the paintings appear to have originated with one man, an obscure French collector-turned-dealer named Giulano Ruffini. The works appear to have had next-to-no provenance, save that they came from the collection of French civil engineer André Borie. Ruffini insists he never suggested they were the real deal, and that eager dealers were the ones to declare his paintings Old Master originals.
The 2,200 photographs by masters like Alfred Stieglitz, Edward Weston and Edward Steichen — more than could fit into an 18-wheeler — were paid for, court papers say, with some of the $78 million that the authorities say Mr. Rivkin got from defrauding oil companies like Shell, Exxon, and Mobil. Mr. Rivkin, who has not been charged with any crimes, was last thought to be in Spain and had arranged to have the photos shipped there.
^ Tan, Yu Shyang; Ko, Ryan K.L.; Holmes, Geoff (November 2013). "Security and Data Accountability in Distributed Systems: A Provenance Survey". 2013 IEEE 10th International Conference on High Performance Computing and Communications & 2013 IEEE International Conference on Embedded and Ubiquitous Computing. IEEE: 1571–1578. doi:10.1109/hpcc.and.euc.2013.221. ISBN 9780769550886.
Provenance trials, where material of different provenances are planted in a single place or at different locations spanning a range of environmental conditions, is a way to reveal genetic variation among provenances. It also contributes to an understanding of how different provenances respond to various climatic and environmental conditions and can as such contribute with knowledge on how to strategically select provenances for climate change adaptation.
In paleontology and paleoanthropology, it is recognized that fossils can also move from their primary context and are sometimes found, apparently in-situ, in deposits to which they do not belong because they have been moved, for example, by the erosion of nearby but different outcrops. It is unclear how strictly paleontology maintains the provenience and provenance distinction. For example, a short glossary at a website (primarily aimed at young students) of the American Museum of Natural History treats the terms as synonymous, while scholarly paleontology works make frequent use of provenience in the same precise sense as used in archaeology and paleoanthropology.
In recent weeks, the art world has been rocked by perhaps the biggest forgery scandal to hit the art world since Van Meegeren’s unmasking. The extent of the Old Master forgery ring is as of yet unknown, but Sotheby’s has already issued a refund to the buyer of a $10 million Frans Hals portrait, sold in 2011 in a private sale through London dealer Mark Weiss. James Martin’s Orion Analytical, a Williamstown, Massachusetts-based company which investigates artworks, found modern-day materials in the canvas, proving it to be a forgery.
There are no accepted estimates on the amounts of money laundered through the art market, although the general belief is that it is enormous and expanding as regulations on other asset classes, from real estate to foreign exchange, tighten up everywhere. The International Monetary Fund estimated that "the amount available for laundering through the financial system" was worth 2.7 per cent of global gross domestic product in 2009 or $1.6-trillion (U.S.).
Recently, photographs have become the target of forgers, and as the market value of these works increase, so will forgery continue. Following their deaths, works by Man Ray and Ansel Adams became frequent targets of forgery. The detection of forged photography is particularly difficult, as experts must be able to tell the difference between originals and reprints.
In a market depressed and made anxious by fakes, investors and private collectors may start pulling out, leaving more room for museums to buy at prices they can afford, which in turn would be good news for any art lover who depends on our public collections. And, since museums don’t have to think about net worth and reselling (let’s forget the Detroit case for a moment), they can live with the risk of maybe having bought a fake. Their audience might still enjoy and learn from the new “Rothko” in the collection.
Collecting Collection (artwork) Collections care Collection catalog Collections maintenance Collections management (museum) Collection Management Policy Collections management system Cultural heritage management Cultural resources management Deaccessioning (museum) Digital repository audit method based on risk assessment Display case Documentation of cultural property Emergency response (museum) Exhibition of cultural heritage objects Found in collection Inherent vice Inventory (museum) Museum integrated pest management Preservation metadata Preservation Metadata: Implementation Strategies Preservation of meaning Preservation survey Provenance Repatriation Restoration (cultural heritage) Storage of cultural heritage objects
Other paintings are now also implicated, including a Lucas Cranach the Elder, from the collection of the Prince of Liechtenstein, that was seized by French authorities from the Caumont Centre d’Art in Aix in March. An Orazio Gentileschi painting on lapis lazuli, also sold by Weiss, and a purported Parmigianino have been identified as suspect as well. Rumor has it that works by up to 25 different Old Master paintings may be involved. (For a break-down on what we know so far, read “The Frans Hals Forgery Scandal, Explained.”)