I am loathe to write this if I am wrong, but I am deathly afraid I am not. I went on a cruise on November 4, 2006 for business. While on the cruise, I attended two art auctions for Park West at Sea. They had two Tarkay serigraphs I was interested in (I knew who Tarkay was before the cruise).
To make a long story short, I purchased one at auction. My problem is not with the Tarkay, it is with the two Chagall lithographs, which were grossly misrepresented by virtue of price asked. I believed that both Chagalls were hand signed and numbered, as I was told they were valued at approximately 3,600 and 4,700.
I asked about the artist and was satisified that if I chose to purchase, I was making a good, sound investment. I purchased two of them for between 2,200 and 2,700 each. I asked if I could see the appraisal before I bid and was told it would be sent to me after purchase. I figured they were a big company and couldn't misrepresent the value of the pieces.
After all, they had an excellent reputation. Boy, I am afraid I'm wrong. After I got home and was able to research some more (I wrote some experts and spent hours on the interent) I called Park West to ask them the number on each of my lithographs. They were signed and numbered, right?
WRONG! Not only were they not signed and numbered, I have come to find they are apparently from a book edition of 5,000 and can be bought for as little as a couple of hundred dollars. The most I have seen for a similar one, unsigned, through other retail galleries, is 700.00. The other lithograph (the expensive one) goes for as little as 3 or 4 hundred. I am absolutely sick over this.
We are talking about 6,000.00. Park West refuses to allow me a refund and are insisting I take a credit with their gallery. I don't want a credit with their gallery. I want two signed and numbered lithographs worth what I paid for them. If I can't have signed and numbered, then I want lithographs which are properly valued. I am furious. I purchased these for two reasons. One because I liked them; but more importantly for investment purposes.
I had another art expert tell me that I could purchase a whole book of Chagall lithographs from him for the price I paid for one. Meanwhile, Park West is working with me to find something I am satisified with, but frankly, I don't want to purchase anything from them after this debacle and their overinflated prices on these two lithographs. This situation has absolutely ruined the last month of my life and I have been having anxiety attacks for weeks now.
I am paying almost ten times what they are worth. If anyone has any advice, please please advise. I am sure I am comparing apples to apples. I refuse to sign Park West's form (giving me the credit) and I will not take delivery of the chagall lithographs. Has anyone else out there purchased any of the master works available? Please help.
Valerie
Covington, Louisiana
U.S.A.
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