{"id":2853,"date":"2018-02-28T04:15:33","date_gmt":"2018-02-28T12:15:33","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=2853"},"modified":"2023-04-11T15:57:01","modified_gmt":"2023-04-11T22:57:01","slug":"how-to-avoid-marketplace-art-scams-2","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id2853-how-to-avoid-marketplace-art-scams-2.html","title":{"rendered":"An Expert Explains How to Avoid Common Artwork Scams"},"content":{"rendered":"

\"art<\/a>Scams? Let me think about that. Scams? Wait for it … Yup, the fine art market in America has scams. I should be asking, “next question?” but Len, in his supreme kindness, asked me to submit something about scams. Can anyone say “can of worms”? (Perhaps I should say “scam of worms.”)<\/p>\n

Over the years, I’ve been approached by a number of people looking to invest in art<\/a> who sought to use our authentication & appraisal services to find out if they should be remorseful or not about an artwork they just purchased, especially if it was on a recent cruise ship vacation bound for fairyland.<\/p>\n

Like the cruise, the goods they usually offer at their “auctions” or galleries are objects of pure fantasy. Common Picasso or Chagall lithographs, worth $2000 are being sold for $30,000 to unsuspecting people who wish to splurge on a simple vacation. Now, if you have an extra $28,000 to waste, bravo for you; come to my office and buy some things from me.<\/p>\n

Beware of Description Fudge<\/strong><\/p>\n

To add to the pot of misery, is the age old “description fudge.” These are descriptions given by fine art sellers who have perfected a line of lingo that stays just inside the purview of legalese, but are so misleading that they’re a sucker’s setup for big rip-offs.<\/p>\n

Let me illustrate: one such typical description is “this is a Lithograph (note the capital “L”) of a Picasso Original (note the capital “O”), Signed and Numbered.” Well, that certainly sounds official, doesn’t it? But, let’s break it down:<\/p>\n

1. “Lithograph.”<\/strong> It is probably true that the artwork being offered is a “lithograph,” meaning that it is a multiple image, printed from a lithographic plate. It might<\/em> mean that the lithograph was done by the hand of the artist, personally drawn on a lithographic stone or plate and then the artist was involved in its printing process. The trouble is, this term also covers a huge variety of printing methods of today, from photo-reproductions like the cover of your favorite glamor magazine, to hand-done photo-mechanical prints done by the high-school kid down the street.<\/p>\n

2. “of a Picasso Original.”<\/strong> This highly misleading but perfectly legal phrase actually means “a reproduction taken from a photograph of a Picasso original.” Of all the terms that have caused injury in the art field, this is the most common. There are, of course, original Picasso lithographs, executed by the artist’s own hands, and printed in small editions that were verified and recorded in a proper catalog raisonn<\/em>. These have genuine value. The others have no significant value whatsoever.<\/p>\n

3. “signed and numbered.”<\/strong> This is the icing on the cheesecake from hell. Such “certificates” seldom say who<\/em> signed it, nor do they adequately describe how many “numbers” there are. Is this the only<\/em> edition? Is the numbering done serially (say, from 1\/50 to 50\/50 for an edition described as a true edition of 50)?<\/p>\n

4. Bonus observation:<\/strong> Often a print is touted as being an “artist’s proof” or an “H.C.” (“hors commerce”<\/em>), or that part of an edition reserved for the print’s collaborators. The French term is often translated “for the trade” or “not for sale.” The size of the editions for “E.A.” (“Epreuve d’Artiste<\/em>,” the French term for “artist’s proof”), “A.P.” or “H.C.” were originally conceived to mean a small part of a printed edition to be presented to the collaborators of the artwork, or for the personal use of the artist. These were usually not more than 10% of the size of the regular edition. However, it’s amazing how many prints we see with the annotation “A.P.”, “E.A.” and “H.C.”. Certain prints we have personally examined have these notations on as many as 1000 prints. This is a serious breach of printing ethics, and highly misleading to those who think they are getting a very small and dedicated edition.<\/p>\n

When In Doubt, Get Clarification!<\/strong><\/p>\n

In the end, it’s okay to ask a seller for clarification of any terms or phrases you don’t understand, or have suspicions about. If you can get such clarification in writing, so much the better. If buying art online, be sure to get such clarifications by letter, or email; if there is something fishy going on, the seller will think twice about completing the sale.<\/p>\n

Reputable dealers are always happy to provide such letters and guarantees. It’s not worth risking one’s reputation, as no dealer can stay in business long if he is unscrupulous. Regardless, anyone buying artwork for more than a few dollars should exercise common sense and due diligence<\/a>, as the difference can be very substantial.<\/p>\n

About the Author: Gayle is the founding owner and director of G. B. Tate & Sons Fine Art<\/a>. <\/em>His services include authentication and appraisal of fine art, and he has worked with federal authorities and art insurance companies to solve and prevent art fraud issues and theft in the marketplace.<\/em><\/p>\n

Photo Credit: Wolfiewolf<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Scams? Let me think about that. Scams? Wait for it … Yup, the fine art market in America has scams. I should be asking, “next question?” but Len, in his supreme kindness, asked me to submit something about scams. Can anyone say “can of worms”? (Perhaps I should say “scam of worms.”) Over the years, […]<\/p>\n","protected":false},"author":52,"featured_media":46449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[461,465],"tags":[],"class_list":{"0":"post-2853","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"category-ripoffs","9":"pmpro-has-access","10":"entry"},"yoast_head":"\nAn Expert Explains How to Avoid Common Artwork Scams<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lenpenzo.com\/blog\/id2853-how-to-avoid-marketplace-art-scams-2.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Expert Explains How to Avoid Common Artwork Scams\" \/>\n<meta property=\"og:description\" content=\"Scams? Let me think about that. Scams? Wait for it … Yup, the fine art market in America has scams. I should be asking, “next question?” but Len, in his supreme kindness, asked me to submit something about scams. Can anyone say “can of worms”? 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