{"id":1234,"date":"2021-09-15T08:18:53","date_gmt":"2021-09-15T00:18:53","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1234"},"modified":"2021-09-14T13:25:36","modified_gmt":"2021-09-14T05:25:36","slug":"nearly-500-counterfeit-francis-bacon-works-confiscated-in-italy","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/nearly-500-counterfeit-francis-bacon-works-confiscated-in-italy\/","title":{"rendered":"Nearly 500 Counterfeit Francis Bacon Works Confiscated in Italy"},"content":{"rendered":"<p>Italian police have confiscated nearly 500 works of art believed to be\u00a0<a id=\"auto-tag_francis-bacon\" href=\"https:\/\/www.atelierauction.com\/globalupdates\" data-tag=\"francis-bacon\">Francis Bacon<\/a>\u00a0counterfeits. The artworks, along with various other personal effects that were seized, are worth about \u20ac3 million (approximately $3.5 million). Five out of seven total suspects investigated have been charged with conspiracy to authenticate and trade forged works of art, along with fraud and money laundering, according to a statement released by Italian authorities on Friday.<\/p>\n<p>The lead suspect apprehended in the operation is an art collector from Bologna. He was previously the subject of a 2018 investigation known as the \u201c<a href=\"https:\/\/www.atelierauction.com\/globalupdates\">Paloma Operation<\/a>,\u201d in which two fake Picassos and other dubious Bacon works were found.<\/p>\n<p>According to the Italian police\u2019s statement, the seizure of 485 works was \u201c<a href=\"https:\/\/www.atelierauction.com\/globalupdates\">preventive<\/a>,\u201d to halt the potential fraudulent sales of other forged art works. The works recovered are being examined by experts who will determine their authenticity.<\/p>\n<p>In 2018, Italian police forces carried out the first investigation after uncovering a group of contemporary artwork, including two drawings with Francis Bacon signatures, in the possession of one of the five unnamed suspects.<\/p>\n<p>Italian police also claimed there was a scheme to authenticate the forged drawings in the art market \u201cthrough prestigious national and international exhibitions, catalogs, websites, foundations and companies under foreign law, so as to increase their \u2018<a href=\"https:\/\/www.atelierauction.com\/globalupdates\">quotation<\/a>\u2019 and then resell them, as a result.\u201d<\/p>\n<p>Tax officials led a subsequent investigation, which found that the same suspect investigated in 2018 carried out financial transactions between foreign countries that were \u201c<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\">incompatible with his legal sources of income<\/a>,\u201d according to the police statement. That statement said that a suspect in the case alleges that the works were gifted directly by the artist.<\/p>\n<p>Forgeries of Francis Bacon works have previously caused a stir in the market. In 2016, a London gallery exhibited a selection of works on paper from on loan from the Bologna-based collector Cristiano Lovatelli Ravarino that have since been disputed by experts. Though Ravarino, an ex-partner of Bacon, has claimed that the works were gifted to him directly from the artist, historians and the author of Bacon\u2019s catalogue raisonn\u00e9, Martin Harrison, have disputed the collection\u2019s authenticity.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Italian police have confiscated nearly 500 works of art believed to be\u00a0Francis Bacon\u00a0counterfeits. The artworks, along with various other personal effects that were seized, are worth about \u20ac3 million (approximately $3.5 million). Five out of seven total suspects investigated have been charged with conspiracy to authenticate and trade forged works of art, along with fraud [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-1234","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nearly 500 Counterfeit Francis Bacon Works Confiscated in Italy - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"Italian police have confiscated nearly 500 works of art believed to be\u00a0Francis Bacon\u00a0counterfeits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/nearly-500-counterfeit-francis-bacon-works-confiscated-in-italy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nearly 500 Counterfeit Francis Bacon Works Confiscated in Italy - 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