The New York Times reports on the state of the auction market in mainland China, where rampant forgeries and a rapidly expanding marketplace have made the bidding experience a fraught procedure.  With a market that has grown to annual revenues of $8.9 billion over the past years, regulators are struggling to keep up.  “The market is in a very dubious stage,” said Alexander Zacke, an expert in Asian art who and head of online house Auctionata. “No one will take results in mainland China very seriously.” (more…)

A Chicago gallery owner has been sentenced to a 6 month prison sentence, with an additional 6 months of home confinement for the sale of fake artworks.  Alan Kass, 76, was also ordered to pay his buyers restitutions of up to $350,000.  “I misled people who, like me, enjoyed art,” Kass said in his court statement. “I disappointed my customers who put their trust in my knowledge. For this I am sincerely sorry.” (more…)