Art Sales Scandals – Broken Trust

Recent tax scandals with art sales, and the auction houses’ price fixing trials damage all of the art world, writes ex-dealer Andre Emmerich. “Art dealing is a business based on trust. People who buy and sell art – whether or not they consider themselves collectors – must have confidence in the person they are doing business with. When one dealer is seen to be dishonest, the public is likely to conclude that most dealers are shady, just as the recent scandals surrounding Enron, Tyco and a few other corporations have affected investor confidence across the board.”