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International Edition
May 24, 2012 Last Updated: 5:03:AM EDT

Italy Cracks $11.2 Million Art Forgery Ring

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Italy Cracks $11.2 Million Art Forgery Ring

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by ARTINFO
Published: August 26, 2010

Italian authorities working on art investigations have been busy in recent years, very publicly hunting down ancient artifacts that they allege were smuggled out of the country, including the Getty Museums bronze sculpture of a young man. However, after an announcement of 12 arrests made in connection with an alleged forgery ring, it now appears that they have at work on more than antiquities-hunting.

The 12 suspects in the case are accused of making forgeries and selling them online, costing collectors a total of €8.8 million ($11.2 million). Some of the copied artists include Matisse, Magritte, Baroque artist Guido Reni, and 19th century artist Teofili Patini, according to BBC News. The work by Patini had been sold for €600,000 ($762,000), while the Reni sold for €300,000 ($381,000). Reni’s "Martyrdom of Saint Apollonia" sold for £1.83 million ($2.82 million) at Sotheby’s in 2008, so the collector may have thought they he or she was receiving a bargain for a work by the artist.

Police officials told press that the fakes were of a high quality. The arrests were the result of an 18-month investigation that involved interviews with art historians and careful examination of the purchased works. While cases of collectors knowingly buying fakes is not unheard of, authorities say that the collectors who did business with the ring were legitimately duped.

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