Fake heirs use Basquiat art to scam you

The Art of Deception: How Fake Heirs Use Basquiat, Miro, and Rauschenberg to Scam You

As an art dealer, I’ve seen it all. But in recent years, one trend has become more and more alarming—people who claim to be heirs of wealthy Texas oil families or descendants of the Rothschild or Kennedy dynasty, reaching out with stories of inherited masterpieces, looking to sell art that they say is worth millions. They claim to have just inherited priceless works by Jean-Michel Basquiat, Joan Miró, Robert Rauschenberg, and other iconic artists—paintings that are purportedly worth 10 times more than the highest auction records. The appraisals are often from obscure, self-proclaimed "experts," who claim to have insider knowledge on the art market.

But here's the thing—these claims almost always fall apart upon closer inspection.

The Red Flags: Inherited Art with No Paper Trail

The most common theme in these stories is that the paintings were recently inherited by the individual or family in question—often presented as someone from a rich, powerful lineage like the Texas oil barons or the Rothschilds. They tell me that they need to sell immediately, due to some personal emergency, and that the paintings must be dealt with quickly. It all sounds suspiciously urgent, as if the seller is desperate to close the deal.

But here's the issue: the provenance of the works is always vague at best. There are no clear documents proving the artworks were actually owned by the famous gallery owners they claim, like Julian Levy, Saidenberg. And there are serious discrepancies between the descriptions and what we know about the artists and their works. Sometimes the painting they want to sell doesn’t even match the known dimensions of the work. Other times, the name of the gallery is spelled wrong—Julian Levy Gallery, for example, is often spelled as "Julian Levi" with a “i” at the end.

The Power of Online Research: How These Scams Fall Apart

It’s a new age in the art world, and the scammers just don’t seem to realize it. With the sheer amount of information available online, it’s easier than ever to cross-check provenance, compare images of artworks, and validate whether these supposed "inherited treasures" are genuine or fake. The internet offers databases of auction results, galleries’ archives, and articles that raise red flags about scams targeting the art world—particularly those involving alleged Texas oil heirs. Articles like "Texas Oil Heirs Scamming People" and “How to Spot Fake Art Deals” are easy to find with a simple search. https://www.newyorker.com/news/letter-from-the-south/the-fake-oilman I have also found articles highlighting cases where these so-called heirs were caught trying to sell paintings with a much inflated appraisal. The claims often ignore basic facts, such as the condition of the work or its true market value. They conveniently leave out the fact that any serious collector or dealer would know that the provenance doesn’t align with the history of the work. For example, Julian Levi was actually a painter and not a well-known art dealer—and the world known galleries they mention may not even have dealt in the artist they claim to represent.

The Appraisals: More Than Just Over-Inflated Numbers

The appraisals that come with these supposed masterpieces are often laughably inflated. I’ve seen paintings appraised for 10 times what they might actually be worth—sometimes even more. The "experts" behind these appraisals are often self-proclaimed art world insiders, with little to no actual credentials. These inflated numbers seem to be designed to prey on naive buyers who may not know any better.

A painting attributed to Basquiat, for example, might be appraised at $100 million by one of these supposed experts, even though the world record for a Basquiat auction is nowhere near that amount. The idea is to create a sense of urgency and pressure the buyer into closing the deal before they realize they’re being scammed.

The Modern-Day Art Heist

In many ways, these scams mirror the classic art heist, but with a modern twist. Instead of elaborate schemes involving stolen paintings and masked thieves, we now have digital tricksters who exploit the reputations of famous families and artists to trick people into buying fake works of art. They prey on the excitement and glamour of the art world, targeting buyers who might not know enough to question the provenance or appraisals.

The most unsettling part is how many of these scam artists seem to believe they are getting away with it. They claim to be selling artwork from "famous galleries" like the Matisse Gallery or name-drop influential families like the Rothschilds, assuming that name-dropping alone will lend credibility to the sale.

Spotting the Red Flags

How can you avoid being caught in one of these scams?

1. Check the Provenance – This is key. A legitimate work of art should come with a detailed history that traces its ownership. If the seller can’t provide this or if there are discrepancies in the names or dates they give, be cautious.

2. Research the Galleries – The names of galleries should be accurate, and you should be able to verify them online. If the name is misspelled or the gallery doesn’t exist, that’s a huge red flag.

3. Question the Appraisal – Be wary of inflated appraisals. If a painting is said to be worth many times more than the world auction record, take a step back. Get a second opinion from a trusted, reputable expert in the field.

4. Look for Consistency – Cross-reference the artwork with known images from galleries, auction houses, and other reputable sources. If the dimensions or details don’t match, it’s likely a fake.

5. Be Skeptical of Urgency – Scammers often create a sense of urgency to rush you into making a decision. Take your time to verify everything before moving forward.

The Bottom Line

At the end of the day, these scams are about exploiting trust. They bank on the idea that you’re eager to own a piece of art with a famous name attached to it. But with the right knowledge and research, these would-be con artists can be exposed for what they are—imposters looking to take advantage of someone’s ignorance.

So, next time you get a call from a “Texas oil heir” with a Basquiat to sell, remember: if it sounds too good to be true, it probably is. Always verify, question, and do your homework—because in the world of art, it’s easy for a fraud to slip through the cracks. But with a little caution, you can spot the red flags before it’s too late.

vwart.com