Marcel Duchamp also was an Art Advisor
A few good points were made by a journalist from Forbes about present market conditions and infamous incidents from 2011. Paintings can be scientifically tested by a number of specialists, but even when the evidence is 100 % in favor of attribution that doesn't mean that a work has been definitively proven to be 'right'. Remember, it's the estate of an artist that has the final word and most artist's estates retain the right to reverse their decisions. Simply said, the market remains unclear as to exactly a how a work should be authenticated, weather by scientific method or expert scholarly investigation.
The Andy Warhol Board has disolved, but that does not mean a collector cannot buy works that have Warhol Foundation documentation. We have quite a bit to offer that we bought from the AWF and all works come with a certificate from the AWF. We remain committed to unique and limited editions, and wherever possible have sourced them with AWF provenance.
Always buy your Warhol from a seasoned Warhol dealer. In the end, they've already done their due diligence, as the last thing in the world they want is to stake their reputation on possible fakes. Think about who you are buying from...how long have they been in the field? Do they have an art education? The market in 2012 will continue to expand to make room for speculators, and nobody wants to be at the wrong end of a short-term manipulation. Does your dealer seem the type to have earned a real reputation in the market? If the answer is yes, then that reputation should be worth to that dealer then any short-term gain from selling forgeries.
If you are new to the market familiarize yourself with as much information as possible, so you can ask the right questions. There is no rush. Like all investments, there will always be more opportunities. Any dealer who is trying to bully you into a once-in-a-lifetime opportunity is probably hustling you.
In the end using your head and your instincts should be enough, as risk-aversion will only lead to small returns.
Finally, make sure it is fun! Like Hollywood screenplays there are no actual rules, and trying to second-guess the art-market is better left to people who love applying the wrong models for the wrong reasons. Who can forget the art pundit who predicted the end of the Hirst market, right before the 2008 Sotheby's sale?