In the Art Industry, same as every other industry, there are people who are genuine and those who are not. Talking about genuine people, it is the case with the majority of the people who deal with art day in and day out. However, every once in a while we see reports that someone did something wrong or reports of them cheating people.
One such case has just surfaced but it is also a strange one. According to reports, a Berlin Art Dealer was arrested last month as he was selling fake paintings in the name of real ones. However, the interesting part is that he was not a newcomer but a well-known art dealer. German publication Der Tagesspiegel reports that the Art Dealer named Micheal Schultz was arrested by authorities from his apartment situated in Charlottenburg.
On the suspicions that he ‘may have been selling high-value artworks with counterfeit certificates – and possibly even defrauding collectors as part of the scheme’, he was arrested. The authorities also revealed that the dealer was running a gallery which was shut down earlier this year. However, the payments were taken by him but he failed to deliver the works. Schultz had previously owned the work but he was trying to sell a fake artwork. However, the artist whose artwork he was trying to sell is not named in the report.
A collector purchased this fake artwork from an auction house but when the artist was contacted, it was determined that the painting was not authentic added the report. While it is known that Schultz was not detained due to his poor health, he is required to regularly check-in with authorities before the investigation concludes. Schultz is known to be 67-year-old according to the German publication DPA.