“Paintings Can Be Forged, But Not Feeling”: Vietnamese Art—Market, Fraud, and Value

Abstract

A work of Vietnamese art crossed the million-dollar mark in the international art market in early 2017. The event was reluctantly seen as a sign of maturity for Vietnamese art amidst many problems. Even though the media in Vietnam has discussed the problems enthusiastically, there is a lack of literature from Vietnamese academics on the subject, especially from the market perspective. This paper aims to contribute an insightful perspective on the Vietnamese art market through the lens of art frauds. Thirty-five cases of fraudulent paintings were found on the news and in stories told by art connoisseurs. The qualitative analysis of the cases has shown that the economic value of Vietnamese paintings remains high despite the controversial claims about their authenticity. Here, the Vietnamese authority seems indifferent to the problem of art frauds, which make the artists more powerless. While the involvement of foreign actors in the trading of Vietnamese art does not reduce the intensity of the problem, it seems to continue to drive the price higher. The results have implications on the system of art in Vietnam, the current state of art theft in Vietnam, and the perception of Vietnamese people on art.