"200 Andy Warhol Pieces Bought for $6.7 Million: Shocking Appraisal Reveals All Are 'Peruvian Fakes'"

Produced in Peru, With Fake Certificates
Legal Battle Erupts Over International Fraud Scheme

A large-scale fraud scheme involving forgeries of works by renowned American pop artist Andy Warhol has come to light, sparking controversy.

One of Andy Warhol's iconic works, Queen Elizabeth II (right). On the left is a forgery purchased by the family of Richard Pearlman. Screenshot from The Wall Street Journal (WSJ)

On September 12 (local time), The Wall Street Journal (WSJ) reported that U.S. real estate investor Richard Pearlman and his family recently filed a damages lawsuit in a Florida court against more than six individuals connected to art dealers and galleries.

From 2023, over approximately 10 months, the family purchased about 200 paintings and prints at a gallery in Miami, believing them to be genuine Warhol works. The total purchase amount was 6.7 million dollars (approximately 9 billion won).

According to the complaint submitted to the court, the Pearlman family claimed they bought the works based on assurances that the pieces came directly from the Andy Warhol Foundation. However, the Foundation has not directly authenticated any works since 2012.

Subsequent appraisals revealed that nearly all of the purchased works were forgeries. The family first began to question the authenticity of the pieces when they presented their collection to Christie’s at the end of 2023. The Pearlman family invited Christie’s experts to appraise items featuring Queen Elizabeth II, singer Debbie Harry, Superman, and other iconic Warhol subjects.

When Christie’s raised concerns about the authenticity of the works, the family requested proof of authenticity from the seller, Leslie Roberts. After Roberts failed to provide such documentation, the Pearlman family filed a lawsuit against her, which was settled in January of this year. Roberts was also criminally charged with art-related fraud.

The Pearlman family alleged that some of the works had been produced in Peru and transported to the United States, and that there were individuals who supplied certificates and stamps to make the pieces appear authentic. The family’s attorney emphasized, "The Pearlman family intends to hold all individuals and companies involved in deceiving them and other victims accountable for the fraud scheme."

Eric Thompson, professor of art crime studies at John Jay College of Criminal Justice, pointed out the vulnerabilities of the high-end art market, stating, "Most high-value art sales are conducted privately," and "Even if the same Andy Warhol work is sold every day, people would not notice."

This content was produced with the assistance of AI translation services.