Buying power
Wednesday, 16th August 2006
Forgery in painting has enjoyed a long history of scandal and from time to time spills more ink than paint, in part because we all enjoy reading about an art expert or moneyed person getting taken in by a fake. Our pleasure derives from that cocky-smug common-sense feeling that no painting is worth the prices currently being fetched in the marketplace — Picasso’s ‘Boy with a Pipe’ sold for $104 million (£56.3 million) in 2004, and more recently Klimt’s ‘Portrait of Adele Bloch-Bauer 1’ was snapped up for a reputed record $137 million — especially when the naked eye can’t tell the difference between the original and a well-executed copy.
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