Unlike auction houses, who are shielded from any liability by article 61 of the Auction Law of the People’s Republic of China, buyers of fake works in China currently have no legal protections.
As reported by Legal Daily, the publication of Committee of China’s Political and Legislative Affairs, Beijing will crack down on what it calls the “three fakes” in the current art market: fake works, fake sales, and fake auctions, which have damaged investor value as well as Chinese art’s reputation on the international market.
At the 2012 Beijing Culture and Creative Industry Development Forum in September, Guan Yu, the deputy director of the Beijing Municipal Bureau of Culture, announced that the government is considering establishing an art database and improving credit management in the art market.
China looks to clamp down on forgeries (The Art Newspaper)
