Is $8.2 million Chinese Scroll sold by Sotheby's Counterfeit?
Is $8.2 million Chinese Scroll sold by Sotheby's Counterfeit?
Three art historians say the scroll is not from the 11th century; Sotheby’s says it stands by the work and will investigate.
Purchased for $8.2 million at Sotheby's NY by Liu Yiqian, a wealthy Shanghai businessman, the scroll was all set to go on display at Mr. Liu’s private museum in Shanghai. That is now on hold pending a review of the scroll's authenticity.
Joseph K. Levene's insight:
The China Auction market has suffered serious erosion in 2012, losing over $4 billion in value because high value lots sold at auction are often found to be counterfeit.
Because of Chinese government restrictions neither Sotheby’s nor Christie’s is allowed to sell ancient Chinese paintings or art works that are defined as cultural relics in mainland China. Should this scroll be counterfeit, Sotheby's will suffer signficant credibility erosion in China.
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