Tuesday, May 23, 2006

"One of the most lucrative art scams in years"

Canada's Globe and Mail reports on the latest art scam: forgers purchasing (authentic) works by relatively minor European artists, "altering them in a process known as 'Russification,' painting on the signature of major Russian artists, and selling them for many times their worth." A curator at the National Museum of Russian Fine Art is quoted as saying he believes "at least 120" paintings have been purchased throughout Europe at prices ranging from $1,000 to $20,000 and then "Russified" and resold for as much as $1 million.