A number of New York City art galleries and dealers have been subpoenaed in the past weeks by the Manhattan district attorney’s office, asking for a sales and shipping records for past sales. Some speculate that the high prices paid at recent auctions have triggered a response by the DA to investigate possible fraud and tax evasion. “I suspect they are looking at many. It is very rare they would go after a one-off unless it was someone who was very well known,” says tax specialist Ken Zemsky.
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