The art world was once again reminded of its vulnerabilities when collector Frank Fertitta discovered that a painting he believed to be an authentic work by Mark Rothko was, in fact, a forgery. The story broke through no legal action or investigative efforts, but just by Fortitta reading about the forgery in The Art Newspaper.
The way this particular painting became a focus for authorities and has received such notoriety is closely tied to the art forgery scandal of the former Knoedler Gallery, an art dealer that was once considered to be one of the foremost art dealers in the United States, however for many years the gallery sold forged paintings associated with some of the most prominent modern artists to unsuspecting collectors.
Fertitta had purchased this particular painting in good faith as a result of believing in the gallery’s reputation and by trusting the authentication documents he received at the time of purchase. Like many collectors, provided enough support to authenticate the painting and protect his interests as a legitimate collector.
That confidence changed when renewed reporting on the Knoedler case resurfaced. Details outlined in investigative articles prompted Fertitta to reassess his own artwork. Similarities between his painting and known forgeries raised concerns that could no longer be ignored.
The Role of Journalism and the Impact on Collectors
The Knoedler fraudulent artwork scandal showed how falsified histories and ownership records assisted in legitimizing fraudulent artwork at the highest level of the art market. Some paintings were promoted as never before seen great works, which were forged as works by Rothko, Pollock and de Kooning among others.
In the case of Fertitta, the role of art journalism has had an important role in making the art market more transparent. Publications such as The Art Newspaper have contributed to making a very complicated and very secretive market more understandable. Without the benefit of on-going news reporting.
The emotional impact of such discoveries is significant. Collectors experience disappointment and lack of trust and concern regarding their reputation in addition to any monetary losses incurred. The collectors have chosen to collect fine art in large part due to a passion and belief that the artwork has cultural value making.
It reveals how traditional due diligence has limitations. Even seasoned collectors can be fooled when documentation looks good and sellers look like trustworthy institutions. This has caused the art community to rely more heavily on scientific tests.
Frank Fertitta’s experiences stand as both a warning and as an example of the fact that being vigilant; investigative journalism is extremely important; and finding ways to increase accountability in a marketplace.
