What's Happening?
The Greek Culture Ministry has introduced a new bill aimed at combating art forgery. The legislation proposes severe penalties, including up to 10 years in prison for large-scale or organized art fraud.
It also establishes a registry of certified art appraisers, who must meet specific educational and professional criteria. The bill targets individuals involved in creating, altering, or trading artworks intended to deceive regarding their authenticity. Artworks valued over €120,000 or those made with the intent to deceive could be confiscated or destroyed. The public consultation for the bill is open until January 8.
Why It's Important?
Art forgery is a significant issue that affects the art market globally, including in the U.S. This legislation could serve as a model for other countries looking to strengthen their legal frameworks against art fraud. By establishing a registry of certified appraisers, the bill aims to enhance the credibility and transparency of art transactions. The emphasis on punishment over prevention has sparked debate, highlighting the need for comprehensive strategies that include due diligence requirements for galleries and auction houses. The outcome of this legislation could influence international art market practices and policies.
