In this case, the buyer caught on as soon as the works were in his possesion. Revolver gallery paid a couple, the Walshes, $80,000 for two Shadow works:
Last fall, the Walshes listed two “Shadow” paintings on eBay for $100,000, the gallery says in the 10-page complaint. The listing said they had bought the pieces from an art dealer for $240,000 but were “forced to sell them at a loss to remodel their home.”
The listing included a copy of the Walshes’ purchase invoice, a document indicating that Christie’s Auction House had valued the pieces at $120,000 to $180,000 at auction and a statement that the works were “registered with the Warhol Foundation with numbers PA65.049 & PA65.032,” according to the complaint.
When the gallerist discovered the documentation was phony and the works were on new canvas, the Walshes started repaying some of the $80,000. They only came up with $30,000. Now the owner of Revolver gallery is suing for the remaining $50k.
L.A. Gallery Says It Was Sold Forged Warhols (Courthouse News Service)