It is common knowledge that most of the circulating artworks are actually fakes. A recent example is the exhibition of the Leghorn artist Modigliani at Palazzo Ducale in Genoa, consisting almost entirely of non-authentic works. To avoid risks, all art collectors (whether occasional buyers or simple enthusiasts) should follow a few basic rules.
This first transfer is frequently formalised in a written and signed contract of sale of a work of art between the artist and the buyer (often brokered by a gallery owner or some other agent of the artist). However, the formal requirements of a written contract are not always respected. This is especially the case with transfers taking place at different levels of the market.