Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Rosales Cooperates; Forger and Accomplice Uncharged; Who’s the Target?

August 16, 2013 by Marion Maneker

Today’s news that Glafira Rosales received a superseding indictment also raises the likelihood that Ms. Rosales is now cooperating with the Justice department. She seems to have given prosecutors the name of the forger and the information that her companion helped complete the process of “aging” the works so they could pass muster. Neither the boyfriend, Jose Carlos Bergantiños-Diaz, nor the unnamed forger have been indicted suggesting that prosecutors are moving up the value chain looking for a bigger target.

If Rosales is making a plea deal and her accomplices are not yet being charged, who is the target? The obvious implication is the persons who benefitted the most from transacting in fake works.

Investigators say Ms. Rosales sold 40 of the counterfeit works through Knoedler & Company, a venerable Upper East Side gallery that took in about $63 million from their sale. The gallery, which abruptly closed in November 2011, kept $43 million of that sum, and paid Ms. Rosales $20 million. Fakes sold through a second Manhattan dealer, Julian Weissman, brought in another $17 million, according to the indictment.

Meanwhile, the painter earned $5,400 for a painting in December 2005 and $7,000 for another in February 2008, the indictment said.

Ms. Rosales has pleaded not guilty and was released on bail earlier this week. Knoedler, its former president Ann Freedman, and Mr. Weissman have repeatedly said they believed the works they sold had been authentic.

Art dealer is believed to be cooperating with federal authorities in fakes case (The Art Newspaper)

 One Queens Painter Created Forgeries That Sold for Millions, U.S. Says (NYTimes)

More from Art Market Monitor

  • Saffronart Fall Auction = $4.09mSaffronart Fall Auction = $4.09m
  • IFPDA Print Fair Sales ReportIFPDA Print Fair Sales Report
  • As Annie TurnsAs Annie Turns
  • The Illuminated-Manuscript-for-Hostage DealThe Illuminated-Manuscript-for-Hostage Deal
  • Wealthy Indians Don't Buy ArtWealthy Indians Don't Buy Art
  • Rolling Picasso, an Exercise in CareRolling Picasso, an Exercise in Care

Filed Under: Fraud, Theft & Restitution

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Tony Podesta's Secret Art Buying
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • How to Chant Like an Auctioneer
  • Rare Photo Album by Dutch Street Photographer Bought at Auction by Rijksmuseum
  • Christie's Announces $70m Picasso Self Portrait
  • Basquiat's Last Girlfriend
  • Roy Lichtenstein’s Top Ten Auction Prices
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor