Mike Martindale of the Detroit Free Press is reporting that Park West Gallery of Southfield Michigan, the large supplier of art sold on cruise ships, will suspend print sales by Salvatore Dali at cruise auctions. According to the article Park West, currently involved in litigation with the Fine Art Registry (FAR) of Phoenix Arizona is accusing FAR of "cyber terrorism" based upon allegations about Park West posted on the FAR website. Park West currently has a lawsuit filed against FAR in Michigan for defamation, while a similar filing by Park West against FAR was recently dismissed by a Florida judge.
Martindale reports In a statement Friday, Robin Danek, Park West's director of marketing communications, said, "Park West has temporarily suspended restocking of some Salvador Dali works at our cruise auctions. The decision was based on current market conditions. Like any company that sells products, Park West regularly makes inventory decisions based on sales data, market conditions and other business factors."
Matindale continues In December, 10 art collectors joined a lawsuit filed in an Oakland Circuit Court alleging Park West sold them nearly $600,000 in artworks containing fake signatures, including those of Dali. Park West countersued. The matters are all assigned to Circuit Court Judge Nanci Grant.
Appraisers should find the suspension statement by the Park West Gallery director of marketing interesting. He states the reason for the suspension of Dali sales was based on current market conditions. Many appraiser encounter these conditions as they research comparable property in general, while many of our clients have now discovered the current negative effects of market conditions. The Park West explanation appears lacking in specifics and details. I would have liked to have seen a more robust rationale, such as why only Dali prints if the decision is based upon market conditions. As appraisers we know and have not only seen but documented the impact of current market conditions and the troublesome economy within many categories of the fine and decorative arts.
As I have mentioned before on the AW blog, as appraisers we often encounter art purchased on cruise ships. As the lawsuits continue, and with an eventual verdict or an eventual settlement of the lawsuits between Fine Art Registry and Park West appraisers will almost certainly benefit when evaluating and valuing this category of art.
To read the full Detroit News article, click HERE. Or for more information, you can visit the websites of Park West Gallery by clicking HERE or the Fine Art Registry by clicking HERE.
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