Four Corners - Rogue's Gallery
The booming public interest in artworks as investment has meant a bonanza for those in the business of art. At the latest round of art sales, $16 million was spent in the space of a week. In scenes reminiscent of the 80s, some works sold for triple the expected price.
The difference now is the entrepreneurs of the 80s have been replaced by small investors, gambling their hard-earned savings on what they can only hope is a sure thing. Like all games of chance, the odds are stacked heavily in favour of the house.
The rules protect the dealer and the seller at the buyer's expense, and the unchecked culture of confidentiality gives the fakers virtual impunity and perpetuates the cover-up of fraud. The culprits may be few in number, but the whole system is open to suspicion as long they're allowed to thrive.
It all adds a whole new meaning to the term 'buyer beware'.
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