Embattled cruise-ship art dealers, Park West Gallery, are making a push into Picasso:
Park West Gallery is pleased to announce the re-launch of its Picasso Website. The site, www.parkwest-picasso.com, includes expanded information about Picasso’s 347 Series and the La Celestine images. Additionally, more imagery of Picasso’s 347 Series and Suite Vollard has been posted. […]
Unfortunately, their track record with picasso is mixed according to the New York Times:
There, he said, the auctioneer talked up two “museum-quality” Picasso prints appraised at more than $35,000 each and a trilogy of Salvador Dalí prints valued at $35,000 as a set. Mr. Maldonado said the auctioneer described the works as “good investments,” explaining that they were being offered at 40 percent off their “appraised value,” with no sales tax.
When he asked about the nature of Park West, he said he was told it was on par with Christie’s and Sotheby’s.
It was easy to make the leap. After all, he thought, it was a prestigious cruise, and he had gotten discounts on good wines onboard before. He started bidding, with little competition from the room, and stopped at several thousand dollars below Park West’s appraised value on each. He received an invoice marked “All sales are final.”
It was only after Mr. Maldonado landed back in California that he did some research on his purchases. Including the buyer’s premium, he had paid $24,265 for a 1964 “Clown” print by Picasso. He found that Sotheby’s had sold the exact same print (also numbered 132 of 200) in London for about $6,150 in 2004.
In addition, he had paid $31,110 for a 1968 print, “Le Clown” by Picasso; Artprice.com, an online art database, showed it going for about $5,000.
Art Auctions on Cruise Ships Lead to Anger, Accusations and Lawsuits (New York Times)