ET Explainer: How to buy genuine art and avoid frauds

Fake art scams aren't new. Just earlier this year, a former Los Angeles auctioneer agreed to plead guilty to an art fraud scheme where he fabricated 25 paintings in Basquiat's style and sold them to an Orlando, Florida gallery. The scam was exposed when a consultant spotted a FedEx label on the back of one painting that used a font that was introduced six years after Basquiat's death.

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