Fakes Proliferate as South Asian Art Market Booms, Dealers Warn
South Asian modern art is having a very good run. Auction sales topped $100 million last year, records have tumbled, and Christie’s and Sotheby’s have both made a show of the category in London this summer. There is, however, a problem with all that new money: forgeries. Dealers and specialists say forgeries are proliferating as prices for artists including S.H. Raza, M.F. Husain and Sadequain have climbed, according to the Financial Times . Dadiba Pundole, whose Mumbai gallery represented several leading Indian modernists during their lifetimes, estimates that as many as one in 10 modern artworks sold privately in India could be fake. “There have always been some fakes, but in the last 15 years values have gone up, so there’s been a spurt,” Pundole told the FT. “It’s become a real menace.” Charles Moore, of London’s Grosvenor Gallery, said he is offered a likely fake by private sellers “every couple of weeks.” Once, the obviou...