CNBC Highlights TV Art Auction Portrait Fraud Case – artmarketblog.com
Fine Art: A Portrait of Fraud, an investigation into a television art auction scam that sold bogus and unauthorized art and duped viewers out of millions of dollars, was aired by CNBC on Wednesday 14th March.
See more info here:
- Document: Evidence Seized from Fine Art Treasures [PDF]Photos of artwork and evidence seized when warrants were served at Fine Art Treasures Gallery.
- Document: Myron Temchin Fraud Report [PDF]Fraud Report from victim Myron Temchin highlights the scam by Fine Art Treasures Gallery.
Kristine Eubanks is a Los Angeles based entrepreneur. Together with her husband and a fast talking auctioneer, they create a diabolical plan to sell big quantities of bogus art and unauthorized prints on live TV.
Fine Art Treasures Gallery
They launch a national televised auction called Fine Art Treasures Gallery. The live TV show offers viewers a chance to bid on “rare” artwork at bargain basement prices. The paintings are advertised as signed by such artists as Picasso, Chagall, Dali and Rembrandt.
The show reached viewers across the country. Business was booming and Fine Art Treasures Gallery made millions of dollars from an unsuspecting audience. But soon the auction winners discovered, looks can be deceiving.
CNBC also produced an article about protecting yourself from art fraud. Emmanuel Benador, former Director of the Jan Krugier Gallery and Michele Senecal, Executive Director of the IFPDA both contributed to the article which can be viewed here:
**Nicholas Forrest is a Sydney/London based art market analyst, art consultant and writer. He is the founder of the Art Market Blog (artmarketblog.com) which offers independent commentaries as well as research and analysis on the current art market, and has recently been published in Fabrik magazine, Verve magazine, Visual Art Beat magazine, Australian Art Collector magazine, Art & Investment magazine and many others. Nic has made several radio appearances (both nationally and internationally) as an art market expert and has received press from the likes of the New York Times, Conde Nast Portfolio and Times of London.