An expert certification can mean the difference between an object having no value and being worth a fortune. Certifications themselves may be open to question. Jacques van Meegeren forged the work of his father Han van Meegeren (who in his turn had forged the work of Vermeer). Jacques sometimes produced a certificate with his forgeries stating that a work was created by his father.
Finally, under Guideline 6, the AML Guidelines provides that art businesses must maintain adequate records of their due diligence efforts. Perhaps stating the obvious, but perhaps also implicitly acknowledging the existence of practices by certain dealers, the AML Guidelines observe that “[a]ll documents issued by an Art Business in connection with a transaction (e.g. valuations, sale and purchase agreements, invoices, shipping documents, import / export declarations etc.) should be true, accurate and contemporaneous and represent the honestly held professional opinions of the Art Business.” Likewise, dealers “should refuse all requests from clients to alter, back date, falsify or otherwise provide incomplete or misleading documentation or information relating to a transaction. If there are legitimate reasons for altering a document (e.g. invoicing error etc.) the circumstances and justification should be fully documented and retained on file for future reference and audit.”
Art Businesses should also consider the form of the transaction, such as whether the transaction is taking place through intermediaries, face to face, entirely via the Internet, over the phone, or by any other similar non face to face means. In some circumstances, depending on the nature, value and/or geographic location of the transaction, enhanced due diligence may be appropriate.
The Chinese art market, where regulation is lax, is thought to be particularly prone to money laundering. "The [Chinese] art market has become more and more abnormal," Wang Shouzhi, dean of the Cheung Kong School of Art and Design at Shantou University, told the South China Morning Post in April. "It is saturated with business tricks, fake works and fake prices. … It has become a tool for corruption and money laundering."
In the movie-funding case, the scheme involved several participants, 10 countries, mislabeling transactions as “gifts” and “donations,” disguising the origins of the funds, and offshore shell companies. One letter stated that a transfer of $800 million from a Saudi prince to Razak was a “donation.” The head of the criminal operation used correspondent banks to transfer the funds in dollars.
In the end, maybe this guide was never intended for amoral businessmen in the first place (unless we’ve sorely misjudged our readership!) Maybe this it's more useful to the emerging artists who look for validation (read: dollar signs) in a competitive market. Maybe the artist’s secret to success is appealing to the corrupt and becoming an accomplice to white collar crime (but hopefully not). Are economic criminals the driving force of the art economy? Probably not, but what we do know for certain is that art isn’t only valuable as the evidence of creative genius. It is, to many, a vault.

But to dealers and their clients, secrecy is a crucial element of the art market’s mystique and practice. The Art Dealers Association of America dismissed the idea that using art to launder money was even a problem. “The issue is not an industrywide problem and really does not pertain to us,” said Lily Mitchem Pearsall, the association’s spokeswoman.

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In March 2001 in Boston, meeting with an undercover agent posing as a drug dealer who showed interest in buying the putative Raphael, Stewart said he could move cash, exchange cash for gems in addition to art, and handle the resale of the Raphael, the agent's affidavit says. Eventually, the deal shifted to the Modigliani and Degas, the affidavit says, and Stewart fell out of the transaction.
Nevertheless, a forgery may pretend to be no more than a copy of a genuine original. It then becomes necessary to examine the language and style in which it is written and to look for anachronisms or for statements that conflict with known authorities. This is the method of textual criticism brilliantly employed by Richard Bentley in his Dissertation upon the Epistles of Phalaris (1699), which proved that these letters, far from being written by Phalaris (a Sicilian tyrant of the 6th century bc), were in fact the work of a Greek sophist of the 2nd century ad.
One of the best things about Goodreads is keeping a TBR list...that list that gets longer every month and nags at you when you start reading the new hot book instead. It's that nagging (just like a mother's "sit up straight!") that makes you really take a second look at the books you've been meaning to read forever and realize from reviews that you really should.
Edward Winkleman tells us that “transfer of title for digital art happens with an invoice. The collector generally receives a certificate of authenticity, which is required if they ever want to resell or donate the work to a museum. The artwork could indeed be delivered digitally, and payment could indeed be received digitally, but the bank records will show the transaction.”
My predominant emotion while reading this book was irritation and I became much more interested in why it was irritating me so much than I was in the novel itself. I suppose principally because I thought it was going to be much more literary – a novel that creates the feeling that the characters are generating the plot rather than a novel whose plot creates the characters.
Less clear is whether the standards that exist in the art world about what should be included in the provenance are followed with any regularity or even can be followed as a practical matter. While theoretically intended to be a “chain of title” that should include every owner of the work since its creation, provenance typically tends to be a non-exclusive listing of interesting facts concerning the background of the work, such as notable former owners (at least those who are willing to have their identities disclosed) and the exhibition of the work at prestigious venues. Should galleries which held the work on consignment be listed? Does a seller have potential liability if the provenance provided to the buyer turns out to be inaccurate in any material respect? What if it is merely incomplete?
The wealthy figured this out in a big way back in the 1980s, giving rise to ‘art stars’ valued in the millions. And with the increasing popularity and geographical scope of biennials and art fairs in the 1990s, rich people all over the world now have access to seas of multi-million dollar investments that can be rolled up and stored just about anywhere.

Any art object—paintings, sculpture, jewelry, ceramics, fine furniture, and decorative pieces of all kinds—can be forged. The difficulty of forging, however, is as important as market price in determining what is forged. Probably fewer than 1 percent of stone sculptures are false because they require so much labour to make and their market is limited, but as many as 10 percent of modern French paintings on the market may be forgeries. The technical difficulties in making a convincing imitation of an ancient Greek vase are so great that forgeries are almost nonexistent. In contrast the forgery level of tiny archaic Greek and Cretan bronze statuettes, which are simple to cast, is possibly as high as 50 percent. A forger is most likely to succeed with a mediocre piece in the middle price range because such a piece probably will never be subjected to definitive examination. Although the price should be low enough to allay suspicion, the object can still yield a fair return for the effort expended by the forger.

Even though De Sole was appointed chairman of Sotheby’s in 2015 and, presumably, is art-savvy, Clarick points out that his being scammed speaks volumes. “To me,” says Clarick, “it says that the works were pretty good-looking and conveys the impeccable reputation that Knoedler and Ann Freedman had. People believed them. You don’t buy a really fancy diamond from Tiffany and have it checked out on 47th Street.”
The copying of famous works of art dates to the origins of the history of art collecting and therefore to the beginning of the history of art. In the ancient world, replicas of famous works were made in order to satisfy demand by collectors for such works. The bronze Spear Bearer (c. 450–440 bce) by Greek sculptor Polyclitus, for example, achieved great renown for its perfect proportions and beauty. As a result, it was often copied in marble for Roman collectors in subsequent centuries. The copies, which are all that survived into the 21st century, made no pretense of being the original or having been made by Polyclitus.