Virtual Entrepreneur

via Ty Tribble – eBay Business Opportunities

Art News Blog:
eBay may be a great tool for contemporary painters to sell their work online as the paintings usually only sell for hundreds or perhaps a few thousand at most. So investors can afford to take a risk on the work.

But when paintings start selling for very large sums, art collectors seem reluctant to gamble online. One high profile case of art fraud that didn’t help the cause was back in 2000 when a Californian lawyer by the name of Kenneth Walton sold a fake Richard Diebenkorn painting for $135,805.

Basically, he played dumb and pretended that he found the work at a garage sale and helped the eBay auction along by getting his business partner to keep bidding on the work. It was eventually found to be a forgery signed by Walton, which got him plenty of media coverage and the attention of the FBI.

Foto: Paul J Whaley

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