In another high profile case, Knoedler & Co., one of New York’s most prestigious art galleries, bought and sold close to 40 fake paintings. By 2011, the gallery had made more than $80 million.
Glafira Rosales, a Long Island-based art dealer, bought the paintings for less than $9,000 each from a forger named Pei-Shen Qian. A forger produces artwork in the style of a more famous artist with the intention to deceive. Rosales sold the paintings to Knoedler & Co., which then sold the paintings to art collectors.
One buyer, Domenico De Sole, purchased a forged Mark Rothko painting for $8.3 million. When he learned it was a forgery, he sued Knoedler & Co. for $25 million. The trial, as depicted in the courtroom sketch, above, was widely publicized. It raised questions about how galleries and auction houses determine the authenticity of the artworks they sell.