As an artwork collector, you might have spent a lot on paintings. But what if you come to know that whatever you get is less worth as compared to your investment.
You might have heard about Dmitry Rybolovlev, a Russian billionaire who has filed a lawsuit against the Sotheby’s for artwork scam. He had claimed that he had been overcharged for a collection of 38 artworks.
If you want to avoid such a situation in your life you need to aware of the artwork scam. You need to be attentive while investing in paintings.
There are some points that you need to consider while dealing with an artwork dealer:
Inquiry about price: As a collector of artwork you know well about the worth of painting. If you are dealing with such a dealer who is quoting a high price then drop the idea. You need to search for the background of your dealer, what type of dealings he/she had done in the past.
Identify the worth of artwork: You should pay attention to the quality of artwork you are going to buy. You might have bought a number of paintings in the past. Then you must be able to analyze the worth of artwork. Properly analyze the artwork then decide whether you want to invest or not.
Personally attend the auction: If you are really interested in buying an artwork collection then you should visit the auction venue by yourself. Do not trust the dealer.
Do your research for the artwork you want a buy so that you don’t get caught in a scam.