How Wolfgang Beltracchi fooled the art world

A simple, crude forger or the greatest painter of our era? Either way, Wolfgang Beltracchi scammed the art world for millions with his faked masterpieces.

Wolfgang Beltracchi doesn't look much like an international criminal, says Der Spiegel, but he knows better than most that appearances can be deceptive. Once described as a cross between a hippy and an Albrecht Drer Christ figure, he seems harmless enough. But this master-faker is responsible for the "biggest art forgery scandal of the post-war era".

At his trial last year, Beltracchi, 61, admitted to creating and selling 14 fakes, which he sold for an estimated €16m, says Canada's National Post. His speciality was early 20th-century French and German Expressionists: notably Max Ernst, Fernand Lger, Andr Derain and Heinrich Campendonk. He has since admitted that a further "1,000 or 2,000" fake paintings are still out there and many of their owners are none the wiser.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.