More than ever, the seemingly sexy world of art crime is basking in the spotlight. In the last few months alone, a new program in Italy promoted itself as the world’s first devoted exclusively to international art crime studies, an ARTnews investigation concluded there is more fake than real modern Russian art on the market, the New York Times looked into the ongoing problem of art authenticity in Vietnam, and a recent lawsuit filed in Oakland County, Michigan, formally accused Park West Gallery of selling fakes to unsuspecting customers on a cruise ship last year. While these examples illustrate the rising recognition of unscrupulous behavior by the perpetrators, they also raise a question: Why are individuals of means, often extraordinarily savvy in their other financial dealings, so vulnerable when it comes to the acquisition of art? What is it about art that causes buyers to take such leaps of faith, often only to discover that simple research could have easily uncovered any snags or malfeasance?

To Rom Brafman, who, with his brother Ori, co-wrote the groundbreaking book Sway: The Irresistible Pull of Irrational Behavior, the explanation lies in the emotional pull of the actual object. Brafman explains that “when people start purchasing something, initially they approach the endeavor from a rational perspective — ‘I will make an offer I am willing to accept, and above that is just not worth it for me.’ What people don’t count on is the emotional attachment — even touching something makes you more attached to it, and that makes it harder to stick to the original approach.”

This is especially easy to understand with art, whose emotional and aesthetic appeal is intrinsic to its value. While seasoned collectors may attribute successful art swindles to the gullibility of art-market virgins, they too are vulnerable to this emotional impact. “Smart people are not immune to it,” Brafman adds. “They become enchanted.” Indeed, some of the market’s top collectors have failed at times to ask the right questions and have paid for the oversight. While most are reluctant to discuss their less-than-successful purchases, one major collector, currently on ARTnews’s annual list of top 200 collectors, spoke to ARTINFO on condition of anonymity. When asked about impulsivity in art-buying, this collector first pointed out that “art has a price tag which does not allow that.” However, after mulling it over a moment longer, he admitted “I’ve been impulsive once or twice; I’ve made mistakes being impulsive, taking the view that the eye is the best judge of the pieces, and I did not check authenticity before buying and should have.”

Another seasoned collector, Bob Karcy, the Grammy-nominated producer and music executive who has been collecting prints and other works of art for over 40 years, says, “I go by my own personal taste and what I like, and after a certain price level I start looking at provenance, take more of an investment decision.” While he has few regrets about his purchases, Karcy muses that he may have been caught up in the moment at auction and raised his hand a few times when he should not have. He claims to have greater regrets, however, about not raising his paddle than doing so too readily.

Of course, less experienced buyers are even more vulnerable to the forces at play in the promotion and sale of art. According to Noah Charney, the founding director of the organization Association for Research into Crimes Against Art, which runs the new program in Italy, there are several elements that combine to make the unsuspecting art buyer easier to exploit. Charney notes that “the art world is such a strange organism. It’s seen as an elitist club that people want to belong to.… If you’re a part of it, [you] want to play by the rules.” He adds that there’s a “long history of handshakes and gentlemen’s agreements.” Also, as Bonnie Magness-Gardiner, the FBI’s Art Theft Program manager, observes, would-be buyers “don’t want to ask the questions, because that will raise doubts about the wisdom of the purchase.”