Recently, when sorting through emails with offers from galleries, Alex D., an art collector with an interest in emerging artists, came across some images of work by Moritz Kraus, a minimalist painter, that piqued the buyer’s interest. Kraus’s prices were good, and the artist was well regarded by a collector-friend of Alex D.’s who owned another work. There wasn’t much about the artist online, but a tight-knit group of active Instagram users, all Italian art collectors, were hyping his work. Alex D. felt in the right mood and closed the deal. The painting arrived shortly thereafter. There is nothing unusual about this. Shopping for art is, like other consumer pursuits, sometimes laborious and other times intuitive and quick. But what makes this different is that neither Kraus, nor the collectors who seemed to love him, actually exist. Profile of Carlo Alberto Ferri. Scam or Prank? With its main arteries of business being not only wealth, but, more importantly, conspicuous displays of it, the art world leaves quite a bit of room for schemers and hucksters. In 2011, New York’s 165-year-old Knoedler gallery collapsed after it was revealed to have been a conduit for fake works by Abstract Expressionist stars. The rise of social…
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How a Network of Fake Art Collectors Used Instagram to Boost a Fictional Artist's Career …
