Art fraud is a crime that costs the victim millions. You are more of risk of being sold forged art if you are a beginner in the art industry. People who have been into art investment for a long period of time would probably be able to tell scam art from real, however it can be a problem for the beginner. However, not all is lost – you can still do proper research and keep a few things in mind in order to make sure you are not scammed. Here are some of the basic tips that will get you started in the art investment business (or even if you just want to purchase art to add to your collection):
- You should prefer buying from your local artists and dealers – this way you will be able to find out reviews. Preferably, buy from an artist well know within your local area or a dealer that has been there for a long time.
- Always check the art piece after a face-to-face meeting rather then selecting the art piece and buying it online. Never transfer fire funds to a stranger.
- Another thing you ought to keep in mind while making a deal with a stranger selling art is that you mustn’t give your personal information away, especially not credit card information.
- Always check the backside of the artwork, or the bottom in case it is a sculpture you are buying. If you find a history of stamps or postal marks, chances are the purchase is legitimate.