Complaint / review / scam report
Gallerie Concorde dealing in fraudelent artwork as investment
We purchased 2 Peter Max pieces in August of 1995 with the sales pitch of it being a good liquid investment. Hold them for 9 months to a year and then sell them at a good profit since Peter Max was in trouble for taxes with the IRS. We waited the nine months and then called to relist the paintings for sale and were talked into waiting an additional 6 months by Harold Sendel because the tax trial was not finished yet and if Peter Max was sent to jail the values would skyrocket. The six months went by and we called back to list and Harold tried to put us off again but we went ahead and listed them anyway and for the first time were made aware that they were trying to move multiple copies of the same artwork. Our art went in to 6th and 8th position respectfully. We called for updates every 6 months and usually had to call twice to get a response. Supposedly on Oct 16, 2001, four plus years later, they had reached the status of #1 and were next to sell. Amazingly they have remained at number 1 ever since and still are as of 7/16/2008. Seven years and no end in sight. Harold always has a reason: too much art on the market, the stock market is up, the stock market is down, gold is up, 9/11, terrorism, or a current event it is to blame. What has became painfully obvious is that the money we invested is gone and we are getting nothing but the run around. The appraisals are worthless. If the other people do in fact start a class action lawsuit by all means sign us up. We have resigned ourselves to the fact that it was a bad investment but would like to hopefully prevent anyone else from making the same mistake and buying into this con game.
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