Not Savvy Collecting
Below is a MRR and PLR article in category Arts Entertainment -> subcategory Other.
Beware of Discount Art Sales
Summary
Original paintings by Renoir, Chagall, Picasso, Rembrandt, and Mary Cassatt available at a discount buying club? It seemed dubious. With few Rembrandt paintings in private collections worldwide, and certainly none at a trunk show at a discount club, skepticism was warranted.
The Art Sale
The art dealer hailed from a seemingly upscale Southern California location, which raised suspicions about the authenticity of the artworks. While there are reputable dealers there, the area is also known for targeting unsuspecting art buyers. Similarly, places like Carmel, Honolulu, and Scottsdale see travelers spending freely, often without due diligence.
Among the artworks was a painting by an artist with a French last name, unknown to many. The lack of a first name hinted at possible deception, preying on buyers' fear of seeming uninformed about famous French artists.
The offerings included unsigned lithographs by Marc Chagall, typically part of books and not highly sought after nor high-priced. The "Rembrandt" etchings were 19th-century reproductions; as Rembrandt's original plates from the 17th century have been repeatedly altered, the later editions are less desirable and overpriced.
Mary Cassatt's etchings were replicas, produced in France long after her death, from original plates. While copies from places like the Louvre can be valuable, they typically sell for a few hundred dollars?"not the thousands being asked at the club.
Key Advice
These sales were essentially "fool's gold." Here's how to protect yourself:
1. Verify Before Buying: Ask for a photograph and detailed description of the piece. Consider hiring a fine art appraiser for research.
2. Find an Appraiser: Use the American Society of Appraisers' website at www.appraisers.org to locate a qualified professional.
3. Check Return Policies: Ensure the receipt details the artist's name, title, date, medium, condition, price, and dealer’s contact information.
4. Trust Your Instincts: If a deal seems too good to be true, it probably is.
Stay informed and cautious when purchasing art to avoid costly mistakes.
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