- Report: #294355
Report - Rebuttal - Arbitrate
Complaint Review: Loren Adams Gallery
Loren Adams GalleryMaui, Hawaii USA Lahaina, Hawaii U.S.A.
Loren Adams Gallery Art that depreciates and non-disclosure of relevant information Lahaina Hawaii
*Author of original report: My Piece is valueless but their's are 32.5k???
*REBUTTAL Owner of company: My side of the story for Floyd L.A.
Information from the Adams website indicated the print had appreciated to over $20,000
I decided to sell it. First I had to pay $175 to Patty Adams for an "official appraisal" although they purported to keep complete records.
After paying the $175 I got the appraisal and no interest from anyone in buying the print. And no responses from anyone connected to Loren Adams to my continued inquiries.
Further research showed that despite the print being a limited edition, the Adams' just kept reprinting other editions of the same image in other sizes and pricing them at $2500.
At the time I purchased the print their intention to just keep reprinting the image with slight (almost unnoticeable)variations was not disclosed to me.
The question then was "why would anyone pay the "appreciated" price for my piece when they could have the exact same piece in a slightly different size or reproduction method for about 10% of the appraised value of mine?" No one sane would.
And what was Patty Adams basing her $175 "appraisal" on?
There is no apparent serious resale market for any of Loren Adams work: reproductions or otherwise.
I would suggest that before buying from him or any of the websites or Galleries that represent him that you do a full on line check to see if there is actually any chance of reselling the item for any sum close to what you've spent.
I suggest you do this for any art you buy. remember a $2500 print costs the artist, maybe, $100 or so and the rest of your money is going to profits.
Don't buy on vacation. The piece will still be there and the sale person still eager to sell it after you seriously consider and research the purchase.
This report was posted on Ripoff Report on 12/25/2007 06:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/Loren-Adams-Gallery/Lahaina-Hawaii-96761/Loren-Adams-Gallery-Art-that-depreciates-and-non-disclosure-of-relevant-information-Lahain-294355. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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