5. Warhol: Authentication Board Closure
The controversial Andy Warhol Art Authentication Board was dissolved in 2012, after $7m in lawsuits. The Foundation decided to throw in the towel and review its core function. For many years troubles had been brewing, in the art world over a 1964 series of ten self-portraits of the artist. “The portraits are not self-portraits anymore, they’re just portraits”, so said the foundation, despite them clearly being signed by the artist. This led to long drawn out court cases. The board were also known to authenticate several works that were most likely not created by the artist.