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Boom of famous artists counterfeits

16 May 2010 / 12:05:53  GRReporter
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Boom in sales of counterfeit works of art came as a result of the economic crisis, because many people rushed in search of opportunities to buy something valuable at a good price, driven by the thought that it is a safe investment. As a result of the current panic for paintings Greece has become a haven for counterfeiters, who already hold a large share of the domestic market, because buyers have always been looking for paintings, signed by Greek artists at good prices. 

Not only the increased demand has caused the boom in counterfeit trade, but also the quality of copies made by counterfeiters who have came in Greece, mostly from Eastern countries, say experts in this field for Ta Nea newspaper. Networks are very well organized - each neighborhood in Athens has its own forger and most known are in Patisiya, in Ekali and on one big studio in Mesogia. "Every counterfeiter has specialized in the reproduction of paintings by a certain painter. One paints the paintings of Partenis, another of Bouzianis, third of Volanakis..." says Petros Vergos from the famous auction house. Price for a good reproduction is between €10,000 and €50,000. 

Sometimes distributors put the handwritten signature of the famous painter on the painting and put it on the market. They prefer to move outside the official market and independently get in touch with rich clients, earn their trust and begin to provide them with "original" works of art at good prices. 

Counterfeit retailers are willing to pay over €10,000 for a good fake painting, which will then sell for €500,000. With the profit they then purchase paintings by famous artists and put them out for auction. In the evening of the auction, they also participate by bidding in order to boost the price and then sell the authentic paintings, which have very high prices and create adverse side effects on the market for art.

Tags: Greece works of art paintings forgery counterfeit paintings
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