Legal ethics in the Art world: reflections on and possible solutions to the global challenges of Art Fraud

Abstract

Art fraud is a broad term that generally refers to the sale of fake art work. However, it can also refer to the inherent problems within the auction industry such as Action Rings, Bidders, Seller and Auctioneer Collusion, Bid Rigging, “Elegant Bribery” and Non-Payment. It is a world-wide phenomenon which has attracted attention from different jurisdictions. The main reasons contributing to the prevalence of art fraud have been that the art market is largely unregulated, there has been a lack of legal and ethical standards and, more importantly, there have been a lack of education on such standards. The speaker will first discuss the challenges posed to different jurisdictions, including a discussion of the art market in the Mainland China (PRC) as “PRC has surpassed the United States of America as the world’s biggest art and auction market”, according to a recent report by the New York Times. The speaker will address the problems within the auction industry and issues involving forged expert opinion. There have been instances of forged expert opinions in Europe, such as the cases of Amedeo Modigliani and Christian Gregori Parisot. Existing legal regimes e.g. auction law will be evaluated. The speaker will also recommend reforms such as the legislative reforms in the auction law, the introduction of Droit de suite in the copyright law, government initiatives and self-regulations and promoting education on the legal and ethical standards.