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Sure you can buy a Picasso, Van Gogh, or Dalí on eBay. But how can you be sure your bargain purchase is a legitimate masterpiece, not a cheap reproduction?
Unless you're an expert, you can't.
"If you're shopping where unknown people are selling, you're going to be in big trouble," said Alan Bamberg, a consultant for ArtBusiness.com. "If you are not capable of evaluating artworks on your own, you need an expert before you buy."
Novice collectors can unknowingly purchase unauthorized reproductions or forgeries. Many sites offer protection for buyers, providing return policies to minimize risk and employing expert jurists to select quality works and assure value.
FineArtLease.com, together with Lloyds of London, provides insurance for individuals who lease artworks. Another site, Gavelnet.com, recently launched a program insuring all transactions for up to US$1 million.
Established auction houses like Christie's, Sotheby's, and Butterfield & Butterfield, on reputation alone assure value and guarantee quality. These traditional auctioneers see that all pieces are vetted for authenticity before being offered for sale.
EBay, in partnership with Butterfield & Butterfield, established Great Collections. Butterfield & Butterfield's experience in authenticating art lends credibility to eBay, which has mainly featured low-price items with no guarantee of authenticity.
Great Collections is a "safe zone for buyers," where specialists preview all items before a sale, said Stephen Turner, director of Internet specialty support and appraisal for Butterfield & Butterfield.
However, because of sheer volume of inventory, some online auctions may allow greater potential for mistakes, said Peck, president and CEO of FineArtLease.com.
Many sites choose expert committees to hand-select works and ensure that pieces are vetted for quality and authenticity. NextMonet.com enlists a team of artists, historians, dealers, and gallery owners to select quality works.
Others trust the dealers with whom they do business to authenticate works.
"Professionals are key to our success," said Uta Scharf, vice president of auction sales for ArtNet.com.
By accepting consignments only from established dealers, ArtNet "assures the buyer that material is examined and documented by a professional."
With consigners putting their relationships on the line, the potential for fraud is minimized. Scharf said ArtNet has never had a problem with purported fraud.
For sites like NextMonet.com, which gathers all its material directly from artists and dealers in the primary art market, authenticity is not a problem, said Bob Conway, vice president of art content.
Authenticity is a big issue for the secondary art market, Conway said. Previously owned, rare, or ethnographic pieces can be especially difficult to authenticate. The potential for fraud is more likely on less-reputable sites, where site owners may not know or fully disclose the origins of an artwork.
Because many online models lack the expertise of traditional art dealers, "There's a lot of bad art for sale at expensive prices," ArtBusiness.com's Bamberg said.
