Chinese Art Party Dampened by Widespread Fraud, says Forbes

Forbes magazine’s Abigail R. Esman contributed an expose and analysis of the Chinese art-fraud machine last week. Apparently, if you peel away the corruption, bid rigging and self-dealing,  China isn’t the world biggest market for art after all. Esman says that China’s biggest auction house, Poly, is an arm of the People’s Liberation Army! Esman goes on to forecast gloom for the future: “a number of experts I spoke to feel that overall, the Chinese contemporary craze has died down, and will not be likely to rekindle.”

also by Bill Davenport

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