Auction Scandals explores the often-hidden world of art auction fraud and market manipulation. It reveals how practices like shill bidding, where auctioneers artificially inflate prices, and bid rigging, where bidders collude to suppress prices, can undermine the integrity of the art market. The book argues that the subjective nature of art valuation, combined with a lack of transparency, makes the market vulnerable to corruption. Understanding these issues is crucial for anyone involved in art investment or collection. The book systematically uncovers the various schemes employed to deceive buyers and sellers, drawing on legal cases, investigative reports, and auction data analysis to expose patterns of fraud. It also examines the ethical implications and potential conflicts of interest involving auction house staff, consignors, and artists. Readers will gain valuable insights into identifying red flags, mitigating risks, and advocating for increased transparency. As the book progresses, it moves from foundational concepts to specific examples of fraud and practical guidance.
