FRED SCOTT: Beware masterful art forgers who can be found out only by rigorous scientific tests
Global art markets continue to grow, affirming that art is an attractive asset class. Private investors and institutions who are wary of investing in "emotional" assets can minimise financial risks with the aid of art advisers. However, the rising incidence of fakes and forgeries appearing on global art markets is a different risk for investors and makes it essential for buyers to get confirmation of the authenticity of an artwork before the purchase. While forgers scam unsuspecting buyers into paying top prices for worthless paintings, some artists like to imitate famous artists — either to improve their own painterly skills or to demonstrate that they have masterly talent. When skillfully executed examples of fakes surface in the market, even experienced collectors and museums are occasionally duped. When art professionals or law enforcement officials doubt the authenticity of an artwork they need to determine a link between the work and the artist.
The New York-based Colleg...