Gallery Agrees to Settle Counterfeit Probe : Art Collector Caveats

Art fraud costs collectors huge sums of money each year. Among the artists most frequently forged are Dali, Chagall, Picasso and Miro. How to protect yourself when buying a piece of art:

* Get professional help: Contact an art appraiser or museum curator for aid in confirming the value of anything you are thinking of buying. Ask the seller for edition size, print medium (lithograph, etching, silk-screen, woodcut, etc.), year of publication and printer/publisher. They will help an expert determine authenticity. California law does not require seller to furnish this information, so ask.

* Make the sale conditional: Tell the dealer you will buy only on condition you can have the piece appraised by your expert. And make sure the contract lets you get your money back rather than exchange your purchase for another--just in case you change your mind or the appraisal is unsatisfactory.

* Check dealers: Call local and state consumer protection agencies, the Better Business Bureau or the state attorney general’s office to see if there are complaints on record. Remember, though, that shady operations often move and change names so there might not be claims against them.

* Beware buying art over the phone: In fact, forget it. It’s almost impossible to confirm the value of a piece or the reputation of a dealer by telephone.

* Be skeptical of dealer claims: Certificates of authenticity and like claims are only as good as the dealer issuing them. Beware of referrals to “appraisers” on the dealer’s payroll.

* Suspect promises of great investment returns and high-pressure tactics: Any authentic offer can wait for an appraisal. If you are uncomfortable with a dealer’s tactics, walk away or hang up the phone.

* Keep your credit card number private: Don’t believe a dealer who needs your number for “verification purposes” rather than payment.

Source: Federal Trade Commission