After reading the other reports here, I wanted to add my story as well. First, let me say I've learned a few lessons from my ordeal with Galerie Concorde. First, no one's going to give money away, so if its too good to be true, its too good to be true. My mistake was being naive and wanting to trust people who have no problem flat out lying to victims. Second, if someone's contacting you about an opportunity, be very very cautious. I just wish reports like this were on the internet when I was contacted.
I was contacted at work about 4 to 5 years ago by a broker from Galerie Concorde, who tried to get me to invest in art. I was reading in the previous reports how they used 9/11 as an excuse why they couldn't sell art. They did the opposite with me. Since they contacted me post 9/11, they said since 9/11, people were skittish investing in stocks so they were all rushing to get into a "safe play"- the art market. Laughable. I was wary of course, but he was a smooth character and got me by getting me to start out 'small'.
A Guy Begin piece for about 400 to 500 dollars. It arrived in the mail shortly. The broker calls me back a few weeks later. He lets me know how much the piece has appreciated. He said I should just wait a few months and then he would sell it for me for a quick profit, but in the meanwhile he had a piece available that was too good to pass up and that I needed to jump on it now. This went on and on and eventually I had spent more than $10, 000, with only promises of how I was only months away from selling one of my current pieces. I bought a Peter Max piece with my broker telling me he could move it easily once the 2004 Olympics came (since he was suppposedly one of the official Olympic artists).
The Olympics came and went without a call. He calls me months after the olympics not to sell the Peter Max, but to get me to buy another piece. I point out to him the Peter Max and how he was supposed to sell it for me. He gets all defensive and tells me he actually had a heart attack during that time and was in the hospital. I actually felt bad, and apologized.
Anyway, he continues on to get me to buy this new piece. I was not looking into spending anymore money. But he gets me again that time by saying that a sale was guaranteed. And I just had to hold the piece for 2 months. It got to the point where I held the piece 2 months and he said the sale was done and he was in the process of transferring me the money, and all I had to do was wait for it to come. He even had the gall to ask me how it felt to make such a killing. Of course we all know how this ends. The money never comes.
I call back and he's "no longer with the company". I was actually able to return the last piece I bought through him to Galerie Concorde for a refund because it fell under their 3 month return policy. Of course the other pieces I bought did was way past the 3 months. Bottom line is that these people will charm you, make promises, and/or flat out lie to get a sale. And no one I know of has had any good experience from this company.
I have since moved on and just consider this ordeal a very expensive lesson. And at the least, I have some very pricey reminders hanging on the wall. I just hope by posting this others can avoid what I went though.
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