With Rules Murky, Fake Artworks Stay On The Market

Is Fake Art Here For Good?
LONDON, ENGLAND - OCTOBER 08: A Sotheby's employee stands in front of Jackson Pollock's 'Number 4, 1951' on October 8, 2012 in London, England. Estimated at $25-35 million the work forms part of Sotheby's Impressionist, Modern and Contemporary Art sale on November 5, 2012 in New York. (Photo by Peter Macdiarmid/Getty Images)
LONDON, ENGLAND - OCTOBER 08: A Sotheby's employee stands in front of Jackson Pollock's 'Number 4, 1951' on October 8, 2012 in London, England. Estimated at $25-35 million the work forms part of Sotheby's Impressionist, Modern and Contemporary Art sale on November 5, 2012 in New York. (Photo by Peter Macdiarmid/Getty Images)

As soon as Richard Grant, executive director of the Diebenkorn Foundation, glimpsed the three drawings in an Upper East Side apartment several years ago, he knew there was a problem.

The artwork on the wall had been previously identified by the artist's estate as fake Richard Diebenkorns. But here they were again, proudly displayed as Diebenkorns by a new owner who had no idea he had bought discredited drawings.

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