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The painting can be fake, but not the feeling’: an overview of the Vietnamese market through the lens of fake, forgery and copy paintings

Author

Listed:
  • Toan Ho Manh
  • Thu Trang Vuong
  • Manh Tung Ho
  • Hong Kong Nguyen-To
  • Quan-Hoang Vuong

Abstract

A work of Vietnamese art crossed a million-dollar mark in the international art market in early 2017. The event was reluctantly seen as a sign of maturity from the Vietnamese art amidst the many existing problems. Even though the Vietnamese media has discussed the issues enthusiastically, there is a lack of literature from the Vietnamese academics examining the subject, and even rarer in from the market perspective. This paper aims to contribute an insightful perspective on the Vietnamese art market, and hesitantly the Vietnamese art as well, through the lens of fake, forgery and copy artworks. 35 cases of fake, forgery and copy paintings were found on the news and from the experts' wisdom. Through the examples, we argue that the Vietnamese art market is a temporary reaction to the immaturely rising of the Vietnamese art and the economy. Therefore, the art market is unable to function healthily unless the Vietnamese art and the economy developed.

Suggested Citation

  • Toan Ho Manh & Thu Trang Vuong & Manh Tung Ho & Hong Kong Nguyen-To & Quan-Hoang Vuong, 2018. "The painting can be fake, but not the feeling’: an overview of the Vietnamese market through the lens of fake, forgery and copy paintings," Working Papers CEB 18-022, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:sol:wpaper:2013/271459
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    References listed on IDEAS

    as
    1. David, Géraldine & Oosterlinck, Kim & Szafarz, Ariane, 2013. "Art market inefficiency," Economics Letters, Elsevier, vol. 121(1), pages 23-25.
    2. Vuong, Quan-Hoang, 2017. "Open data, open review and open dialogue in making social sciences plausible," OSF Preprints du8tj, Center for Open Science.
    3. Quan-Hoang Vuong, 2018. "The (ir)rational consideration of the cost of science in transition economies," Nature Human Behaviour, Nature, vol. 2(1), pages 5-5, January.
    4. Kräussl, Roman & Lehnert, Thorsten & Martelin, Nicolas, 2016. "Is there a bubble in the art market?," Journal of Empirical Finance, Elsevier, vol. 35(C), pages 99-109.
    5. Vuong, Quan-Hoang, 2014. "Vietnam's Political Economy in Transition (1986-2016)," OSF Preprints 48kus, Center for Open Science.
    6. Françoise Benhamou & Victor Ginsburgh, 2002. "Is there a market for copies," ULB Institutional Repository 2013/1687, ULB -- Universite Libre de Bruxelles.
    7. Bocart, Fabian & Oosterlinck, Kim, 2011. "Discoveries of fakes: Their impact on the art market," Economics Letters, Elsevier, vol. 113(2), pages 124-126.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Vietnamese art; Vietnamese art market; Vietnamese artist; fake painting; forgery artwork; plagiarism art;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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