Warhol Foundation Accused of Fraudulently Creating Scarcity
More problems for the Warhol estate.
Susan Shaer claims that the Andy Warhol Art Authentication Board routinely defaces authentic Warhol artworks with a “DENIED” stamp, thereby creating “artificial scarcity” and inflating the value of the art owned by the foundation. According to her complain in Federal Court, Shaer claims that the Andy Warhol’s estate is behind an “insidious” conspiracy to monopolize the authentication and sale of the late artist’s work.
Shaer seeks treble damages and an injunction against Fremont and the Warhol foundation, estate and authentication board, alleging antitrust violations, collusion and fraud. Via Courthouse News Service. For the other related authentication case involving the Warhol estate, click here.