The Great Art Fraud: Performance, Pretty Privilege & an $86 Million Scandal

The Great Art Fraud: Performance, Pretty Privilege & an $86 Million ScandalThis week’s episode of All About Art dives into one of the biggest recent scandals in contemporary art. It’s based on my recent experience watching the BBC’s The Great Art Fraud, which chronicles Inigo Philbrick’s spectacular $86 million fraud that shook the art world to its core.I discuss a range of factors that led to this happening, from the halo effect and “pretty privilege” to the culture of opacity that still defines high-value art deals. I explore how Philbrick sold a lifestyle as much as he sold art - and how the BBC’s documentary, perhaps unintentionally, keeps that performance of glamor alive.We discuss the gaps in regulation, the role of symbolic capital in luxury markets, and why the documentary’s hero’s journey framing (I explain why I think its framed like this) feels kind of uncomfortably forgiving. Will the art world forget this scandal and engage in art deals with Philbrick in the future? It sure did feel like it towards the end…If you’ve watched the series or are fascinated by the intersection of psychology, performance, and market failure, I would love for you to have a listen & leave a comment to share your thoughts!Image & Media CreditsJay Jopling photograph: Oli Scarff / Getty Images, via Artnet NewsKenny Schachter image: Courtesy of Sotheby’sInigo Philbrick image: Getty Images, via The New York TimesThe Great Art Fraud promotional artwork: BBCAdditional images (if applicable): Courtesy KennySchachter.artImage & Source CreditsThis episode includes images sourced from Getty Images, Sotheby’s, The New York Times, the BBC, and KennySchachter.art. Images are presented solely for purposes of criticism, commentary, news reporting, and education. All copyrighted material remains the property of its respective rights holders. No copyright infringement is intended. Images are displayed at reduced resolution and only for the duration necessary to support commentary.📌 REFERENCE LINKSArtnet News piece on White Cube & Jay Jopling — Artnet News article. Artnet News: White Cube Paris gallery news and Jay Jopling image sourceSotheby’s Sotheby's Brightspot profile on Kenny Schachter — Sotheby’s webpage. Sotheby’s: The Hoarder III: A Moment With Kenny SchachterThe Art Newspaper coverage of Inigo Philbrick’s fraud case (image & article) — Art Newspaper story including imagery. The Art Newspaper: Philbrick fraud case image & storyGuardian article on Inigo Philbrick (Christie’s invoice referenced) — The Guardian coverage of Philbrick’s art world swindle. The Guardian: Inigo Philbrick art world swindle and Christie’s referenceIMDb listing for The Great Art Fraud — BBC documentary info and promotional assets. https://www.imdb.com/de/title/tt38048757/ YOU CAN SUPPORT ALL ABOUT ART ON PATREON HERE: ⁠https://www.patreon.com/allaboutart⁠FOLLOW ALL ABOUT ART ON INSTAGRAM HERE: ⁠https://www.instagram.com/allaboutartpodcast/⁠ ABOUT THE HOST:I am an Austrian-American art historian, curator, and writer. I obtained my BA in History of Art at University College London and my MA in Arts Administration and Cultural Policy at Goldsmiths, University of London. My specializations are in contemporary art and the contemporary art market along with accessibility, engagement, and the demystification of the professional art sector.Here are links to my social media, feel free to reach out:Instagram⁠ @alexandrasteinacker ⁠and LinkedIn at ⁠Alexandra Steinacker-Clark⁠This episode is produced at Synergy https://synergy.tech/the-clubhouse/the-podcast-studio/ COVER ART: Lisa Schrofner a.k.a Liser⁠ ⁠⁠www.liser-art.com⁠ and Luca Laurence www.lucalaurence.com Research and Creative Assistant: Iris Epstein