Buyer beware: the dangers of buying fine art through online auctions
Looking to pick up an authentic art bargain in an online auction? Proceed with caution. Online auction sites are among the most dangerous places for inexperienced collectors to buy original art.
With the growth of online marketplaces, art of all varieties is becoming available to a wider audience than ever before. However, if you are looking for authentic artworks, you need to proceed with great caution. If a deal seems too good to be true, it may well be and online auction sites are among the most dangerous places for inexperienced collectors to buy original art.
The main issues are the authenticity and provenance of the works advertised. Words in the description such as "style", "copy", "circa", "-like", "similar to", "repro" and "approximately" are indicative that the work displayed may not be the genuine article. In the extreme, some sellers are not just being ambiguous but offering an item that could be entirely fictitious.
Earlier this year, a bogus seller took an image of an artists' original work from our website and fraudulently offered it for sale on a major online auction business as if they were the owner. The painting had a retail value of around $70,000, but a starting bid of just $350 was listed. As well as the vague description about the artwork in his possession, the seller had intentionally omitted details such as medium. An inexperienced buyer could have bought in good faith but received a printout of the work for their money, rather than the canvas they had expected.
Needless to say we had the item removed swiftly and the seller was banned for life.
So it is with genuine cause for concern that we urge clients to steer clear from retail avenues where the provenance and authenticity of a piece cannot be proven. We advocate buying from reputable sources and getting informed art advice when seeking a potential work. It also ensures that the artists and communities receive a fair price for their work.
