Four Corners explores these two ends of the art industry – the big money auction rooms and the production chain of Aboriginal art – and finds both open to abuse.
What is the public supposed to make of it when an auction room owner buys a painting, sells it, buys it again and then re-sells it - all through his own auction room? Or when an artist's value suddenly hits the stratosphere for no apparent reason? Or when an auctioneer plucks out false bids – a practice now regulated in the real estate trade? Most members of the public – derided by some in the trade as "wood ducks" for their naïveté – are supposed to neither know nor care.
full story & links
http://www.abc.net.au/4corners/content/2008/s2314182.htm
View Video - What's a painting worth? Quentin McDermott tells how Australia's booming art market is open to manipulation – and artists and buyers to exploitation.
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