The organizer of the art exhibition “The Face of Leonardo: Images of a Genius,” which was on display at Huashan 1914 Creative Park from June to September last year, lost its appeal to have false advertising fines reversed, UDN reported. The Taipei High Administrative Court sided with the Fair Trade Commission (FTC) in its ruling.
The FTC fined the company, 京銓藝術發展公司 (Jingquan Art Development), NT$500,000 on April 15 for overstating the value of the artwork at the exhibition. The company had advertised the market value of the artwork as totaling NT$10 billion in some marketing material. However, the value of the artwork without a public auction is debatable, the FTC claimed.
The company argued that the National Museum of History had publicized the value of “The Little Prince” exhibition in its advertisements. The court found that the content of the advertisement is not about the exhibition having a specific objective price, but the purpose is to create a rare and precious impression of the artwork in order to attract people; therefore, the objective price should be a fair market price or fair third-party assessment of the value.
The company said the objective value of art was meaningless in attracting audiences, but it still placed a value in its advertisements.