After watching Made You Look, I've been reflecting on the fact that counterfeit art can still be moving. Until people were made aware of pieces' fraudulent origins, they applauded their artistic value (and even "fell in love" with the works). The point of contention was not about whether it was "good" art, but rather about the art's economic value, which was largely derived from its authenticity.
In theory, economic value should be a proxy for the market's view of the artistic value of a piece. However, this documentary highlighted a clear example of when they deviate. Is this a byproduct of high-end luxury art having an extremely limited supply? Or, is this simply a result of art collection being governed by different economic realities? In other words, do auction prices make people believe in artistic value they wouldn't have otherwise?