JOURNAL ARTICLE

Insurers Balk at $19.7M Claim on Fake Basquiat Paintings Seized by FBI.

  • Published In: Claims Journal, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Schneider, Mike 3 of 3

Abstract

Two insurance companies are seeking to block a $19.7 million claim by owners of forged Jean-Michel Basquiat paintings seized by the FBI in 2022, arguing that the works are counterfeits and have no value. The owners deny the allegations, claiming they acted in good faith and that the paintings' authenticity should not affect the insurance claim. The case involves a former Los Angeles auctioneer who admitted to creating the fake artwork attributed to Basquiat, raising questions about the authenticity of the pieces displayed at the Orlando Museum of Art. [Extracted from the article]

Additional Information

  • Source:Claims Journal. 2025/01, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • Accession Number:182370870
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