Fine Art Advocacy
A Fine Art Registry® Website

A Peter Max update. This is the latest auction update (April 2008).

PETER MAX PRINTS

As of April 2008, www.Artprice.com has estimated values for Peter Max, as follows:

$157 (100 Euro) invested in 1997 in a work of Peter MAX has an average value of $206 (131 Euro) in November 2007.

48% of Peter Max work that is sold at auction are graphic works or prints.

Finally, I researched all the prints that have been sold at auction for Peter Max from 1992 to present. I found the following interesting:

A total of 163 lots have been sold since 1992. Concentrating on the last three years auction records for Peter Max graphic works (2005 to 2008) there were only 25 prints sold (with reported records) and all of them selling between $125 and $1100. The prices of the 25 pieces sold totaled: $12,369.00, divided by the number of prints sold gives us an average of: $494.76, per print

PETER MAX ORIGINALS

One has to keep in mind too that the highest price an original Max work ever commanded at auction (according to askart.com) was $12,545.00 in 2007 (which likely includes a buyer's premium of at least 20 percent). There are many Max paintings that also went up for auction, but remained unsold. Most all the auction houses selling Peter Max prints are the lower tier houses - not Sotheby's and Christie's.

For Original Max works (paintings, mixed media, etc.), here's what askart.com reflects for average values:
Average Price of Sold Artwork by Medium for Peter Max:
3 lots (unspecified)  —  $1450.00
Acrylic (23 lots)  —  $2809
Collage (1 lot sold)  —  $225
Ink (2 lots sold)  —  $533
Mixed Media (21 lots sold)  —  $976
Oil (9 lots sold)  —  $4961
Watercolor (2 lots sold)  —  $460

TOTAL SALES FOR THE LAST THREE YEARS (ORIGINAL WORKS ONLY)

2006  —  $31,327
2007  —  $61,108
2008  —  $20,459

There have only been 61 auction lots that have come on the auction block for Peter Max and only 81% of those sold.

From: "Mary Gordon" <mgordon@parkwestgallery.com>
Date: August 13, 2008 10:43:28 AM PDT
To: <rtered@aol.com>
Subject: Park West artwork

Dear Mr. English,
Per our conversation on Aug 12th, I have taken the liberty of giving your contact information to Gene Luntz, Agent to Peter Max. Park West Gallery is the oldest and largest dealer for Max.
In the event after speaking with Mr. Luntz, you are still not comfortable with your purchase Park West is willing to facilitate an exchange for any of the hundreds of other artists we proudly represent.
Please feel free to contact me with any other concerns or questions.
Sincerely,
Mary Gordon

Aug 15, 2008
(e-mail from Robert English)
Mary called me back this a.m. She said she had fallen and banged her nose on her desk, bloodied it pretty good. After exchanging niceties we got down to business. She asked if Luntz had called me, he hadn't. I told her I really wasn't interested in anything he had to say because of his long-term association w/Park West, he couldn't very well provide me with an unbiased opinion. I told her we only wanted a full refund. She then told me she's going to turn the file over to another Mary, she was going on an extended vacation. I said fine. I asked why the e-mail she had sent to me did not contain the info she said she was sending, i.e., the 40/40 plan. She said she'd be happy to write the agreement and send it to me, she also reminded me that I would not get the buyer's premium back. I told her we weren't interested in that, we wanted a full refund. She said it was not going to happen, I said that was okay, I'll do what I have to do to ensure that it did, using whatever means was available, e.g., media, internet, you folks, etc. She said that was fine. We hung up after that.

RTE

Letter to Mary Gordon from Robert English

Ms. Gordon,

Thank you for the return phone call on Friday, August 15, 2008. I was sorry to hear of your accident and injury and I hope you recover from it soon.
I was somewhat disappointed in the e-mail I received from you in that it did not cover the options we had discussed. I also thought you would be interested in knowing I never did receive the second e-mail you referred to during our conversation. As far as speaking to Mr. Luntz is concerned, if he and your company have been working closely together for many years, as you mentioned, then I am afraid I would not be able to accept his opinion as unbiased, as he definitely has a stake in continuing to do business with your company.
I have researched the Peter Max prints we purchased onboard the Carnival MIRACLE cruise ship and found that we, my wife and I, were the victims of fraudulent misrepresentation and deceptive trade practices. The fact that your company allows these so-called "Auctioneers" to represent Park West is deplorable and should be stopped. The hard sell and out-and-out lies we experienced are despicable traits for any reputable company. Fortunately for us there are laws which protect us. At this time we want to take advantage of these protective laws and request a full and immediate refund. As I explained to you over the phone, we are willing to give Park West an opportunity to rectify this injustice. However, if Park West opts to disregard our request we have no alternative other than to take whatever measures necessary to see that we do receive a full and complete refund for the Peter Max Artwork purchased aboard the cruise ship. I am sure that Carnival's management, federal and state governments, media (press, magazines, television, web-sites, etc.) would all be very interested in what we have to say. Additionally, I have become aware of a company which would agree to assist us in our efforts and publish a full story regarding this issue.
To be perfectly clear, we are requesting a full refund and will not accept anything less. There are to be NO Buyer's Premium's or restocking fees assessed and the shipping and handling for the return of the Max artwork will be borne by Park West.
I have attached a file which shows the true value, not the "Auctioneer's" inflated money making value, of Peter Max's artwork.

Sincerely,

Robert English

From: "Mary Courson" <Mcourson@parkwestgallery.com>
Date: September 5, 2008 10:21:04 AM PDT
To: <rtered@aol.com>
Subject: 40/40/40

Dear Mr. English:

In honor of our 40 years in business, Park West has instituted a new policy called 40/40/40. This policy is as follows:

We stand behind every work of art in our collection, just as we have since our establishment 40 years ago. Our commitment to our 1.2 million loyal customers is to ensure that any art purchased through Park West® is a lasting source of joy. If for any reason you are not satisfied, we will exchange any work you purchased at the auction for another work of your choice, or provide you with a refund.

40 Years: Since our founding 40 years ago, Park West® has guaranteed the quality and authenticity of every work in our collection.

40 Months: Clients can exchange any work purchased for any other work in the Park West® collection of the same or greater price up to 40 months after the date of the invoice. You will be credited with the amount you paid for the work you purchased (including buyer's premium and excluding shipping and handling), with the only charges being shipping and handling and any price difference when the exchange is for a work of a greater price. Exchanges must be made directly with Park West® by phoning 1-877-440-0630 and are not allowed at auctions. When making exchanges, our experienced staff will provide personal attention and access to one of the world’s largest art collections for your collecting enjoyment.

40 Days: Clients can obtain a refund within 40 days after receipt of the art work. Your refund will cover the full purchase price (less the buyer's premium, not to exceed one thousand dollars per piece) and any shipping costs if applicable.

Park West® is the world's largest art dealer and our mission is to connect people around the world to superb artists and the joys of the art world. We want the connection you have with our art to bring joy for years to come—satisfaction guaranteed.

Even though you purchased artwork over 2 years ago at a time when your invoice stated ALL SALES ARE FINAL, I am happy to extend the offer to you as outlined above. I apologize that you are not happy with your purchases but I have worked very hard on your behalf so that you may take advantage of our new program. Please call me so that I can immediately begin the exchange process for you. Otherwise we will consider this matter closed.

Respectfully,

Mary

Mary Courson, Client Services, Park West Gallery
29469 Northwestern Highway, Southfield, MI 48034
800-521-9654 ext 1842 | 248-204-6842 | 248-350-9346 fax

Better Business Bureau:

I have reviewed the offer made by the business in reference to complaint ID 6959648, and have determined that this proposed action would not resolve my complaint. For your reference, details of why I am rejecting this offer appear below:

[You must provide details of why you are not satisfied with this resolution. Please type details here:]

As previously mentioned, I have become aware of the value of similar artwork by this particular artist and it is extremely lower than the "very low" auction price given us by Park West. I feel my wife and I were pushed by the auctioneer into buying our artwork. In a seperate attempt to resolve this issue with Park West, I have provided them with recent sales figures and the low sales prices of similar works by Peter Max (see attachment). It looks as though the art we purchased is valued today at less than half what we paid two years ago. This is remarkable in that the auctioneer stated that it was worth "far more than we were paying for it and would continue to appreciate over the years."

Apparently, we are not alone in the way were were shammed by Park West. My research also indicates they have numerous class action lawsuits against them for their art sales aboard cruise ships. For this reason, I do not feel they can be trusted and, therefore, refuse any type of "exchange of equal value." Whose equal value, theirs or the real world?

Regards,

Robert English