Investigating the Prevalence of Fraud within the Art Auction Market

Abstract

This study contains an analysis of art fraud investigation within the art auction market. This master thesis aims to understand the impact of art fraud on the market, focusing on a briefing understanding of how the art auction market functions, the consequence of art fraud for both buyers and sellers and governmental regulations about art fraud. Then an interview is conducted with an expert in the field of art crime to gain insights into the challenges and strategies involved in investigating art fraud cases within the auction market. Previous research has shown that the investigation of fraud within the art auction market is a topic that has not been analyzed extensively and this thesis aims to fill the gap by providing a comprehensive analysis of the various aspects related to art fraud investigation. The conclusion of this research is then presented through the synthesis of findings from an extensive literature review and case studies of diverse art fraud cases. Some recommendations for stakeholders in the art auction market and law enforcement agencies are provided to enhance the effectiveness of art fraud investigation and prevention. The study concludes that while art fraud is not considerably influential in impacting an artist's price for a long period, it is still an important issue that needs to be further researched to protect the integrity of the art auction market and preserve cultural heritage.