Report: #1170354

Complaint Review: Premium Art Alliances

  • Submitted: Sun, August 17, 2014
  • Updated: Sun, August 17, 2014
  • Reported By: Marlay53 — Chicago Illinois
  • Premium Art Alliances
    501 N Andrews Ave Suite 103
    Ft Lauderdale, Florida

Premium Art Alliances Gavin Abadi Consumers Beware. Traveling Auctioneer dealt in Fraudulent appraisals and bogus jewelry. Now they will not refund my 57,000 I paid for undervalued pieces. Ft Lauderdale Florida

*Author of original report: Not Buyer's Remorse

*Consumer Comment: Sounds like buyers remorse...

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In March, I attended an auction at the local Holiday Inn. We are trying to save money to build a house to accommodate my newly adopted toddler and my disabled adult daughter, who is in a wheelchair.  We need a house that is handicap accessible for her.  I thought I may be able to pick up some reasonable jewelry and resell them to earn a profit. 

I briefly was able to view several jewelry pieces through a glass case Premium Art Alliance had set up in the hotel room.  They did not display appraisals. As the auction started, I got caught up in the moment and bid on too many pieces.  The auctioneer, Gavin Abadi, showed the crowd appraisals that looked authentic, emphasizing the bid prices were way under the appraised values stated in the appraisals. 


After the auction was over, I was surprised to learn I had "won" over 46,000 worth of jewelry.  With tax and the 18% buyers premium, the  total was over 56,000.  I asked the girl at the desk what happens if a credit card does not go through and she said "it isn't pretty".  I was afraid I may be beat up on the way to my car or arrested for not having enough credit available on my card, so I gave her three credit cards to settle my account.  I walked out with the jewelry. 

The next week I took he jewelry to a selling event at a trusted jewelry store in Jacksonville, FL.  They were the first ones to deliver the shocking news.  The jewelry was no where near the value the auctioneer or the appraisals had stated.  I took the jewelry to a certified appraiser.  He said the auctioneer and the appraisers should be in prison.  He said the appraisals were bogus and the jewelry is fraudulent.  He told me I should report them to the State Attorney.  I filed disputes with my credit card companies. After several months, they came back to tell me they can not help.  They said this should be handled in the court system.  I can not afford lawyer costs it would take to sue these people. 

I have since taken the jewelry to three other jewelers and appraisers.  They all stated the same conclusion.  I have tried to get a refund of the full value of the jewelry, plus tax and the buyers premium and Premium Art Alliance has refused to do so. They said in an email, they will refund the  hammer price, which is way under what I paid for the pieces. Now they say they are working on paperwork for me to get any kind of refund and I have not heard from them in two weeks. I do not trust them.  All I want is for this nightmare to be over and for them to return all the money I have in the jewelry.  



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This report was posted on Ripoff Report on 08/17/2014 12:14 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Author of original report

Not Buyer's Remorse

AUTHOR: Marlay53 - ()

Had the jewelry been worth what was on the appraisals, I would have been fine with it.  The point is, it is not.  Now, I just want my money returned.  These crooks should not be able to take advantage of people like this.  From reports I have read, I am not the only one who this happened to.  Not only are they taking advantage of people, but by saying a 6000.00 item is worth 55,000 and telling the crowd the appraisal figure is "just for insurance purposes" this is a "moral hazard" for people as well.  No wonder our house insurance rates are so high!   Theoretically a person can schedule this piece on their home insurance policy, then say it mysteriously disappeared and collect 55,000.  This is a travesty.  I cN not understand how these people "legally" operate.  


Yes, I certainly will not be going to auctions in the future.  The only mistake I made was trusting in people.  I guess because I always try to do the right thing by people, I had hoped others did the same. . If that is being ignorant and naive, I am guilty as charged.  

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#2 Consumer Comment

Sounds like buyers remorse...

AUTHOR: Robert - ()

You know what this report is screaming...BUYERS REMORSE.

Seriously, I wonder where the violins are.  You try and come off as some "innocent" person just trying to make some extra "change".  Well people doing that don't go around to jewlery auctions and not only spending over $50,000, but that they have that much available on their credit cards to be able to even do that. 

So either you are not telling the entire story, or you are (sorry to say) one of the dumbest and most gullible people in the world who watches too much reality TV thinking that every storage locker(or what ever) contains untold treasures.  Oh and yes I am 100% serious.  As if you truly had no idea you had spent over $46,000 until it was over you truly did get too involved and should NEVER attend another auction..EVER.

Oh and as for not having money to pay for an attorney..again really?  You just put over 50K on a couple of credit cards and now you are really going to say that was all you had? 

Look, it is going to be very hard to prove the "fake" apprasial or that there was intent to defraud.  Especially if you don't have these appraisals.  Since it has been over 2 weeks what did the Attorney General state when you reported them?

Also, just out of curriosity it would probably be very interesting if you posted what you paid for each piece and the value the "certified" appraiser gave it. 




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