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Art Auctions At Sea Investigated

POSTED: Wednesday, May 7, 2008
UPDATED: 3:33 am EDT May 12, 2008

Art auctions offering discounts to collectors on cruise ships were investigated in a Local 6 report.

Auctions at sea offer the chance to buy artwork usually reserved for the rich and famous, Local 6's Mike Holfeld reported.

On many cruises, passengers bid on Picasso, Rembrandt, Peter Max and even Salvador Dali works of art.

The Park West Gallery sells art on major cruise lines, Holfeld reported.

Central Floridians Bob and Patti Dibella bid and buy on the seas.

"Did both of you actually believe these were real solid investments?" Holfeld asked.

"Absolutely," Dibella said.

"Why did you?" Holfeld asked.

"Because they said so," Dibella said.

The couple purchased a rare, hand-signed Salvador Dali print from the Biblia Sacra or Sacred Bible Collection, Holfeld reported.

There are only 251 signed examples in the world. Yet, both bought it on a cruise ship, Holfeld reported.

"I knew it wasn't an original by Salvador Dali," Dibella said. "But, if it was an original signature, that's what would make it valuable."

"That's what they told you?" Holfeld asked.

"Yes," Dibella said.

"So, what did you end up paying for it?" Holfeld asked.

"$18,000," Dibella said.

Local 6 found a work from the same series, hand signed by Dali for $7,000.

Fine Arts Registry CEO Terri Franks has made Park West prices her personal agenda.

"These people don't know what they're buying," Franks said. "It's a hit-and-run. It's a con game. That is all it is, pure and simple con."

Franks has been instrumental in getting $750,000 in refunds for Park West customers. In each case, the value of the art was always in doubt, Holfeld reported.

"Why would you give refunds if the art is in fact what you say it is?" Holfeld asked.

"Well, a lot of people, I believe, have been misled," Morris Shapiro of Park West Gallery said. "We've been around for 40 years and I think the comment of calling it a con is just really ridiculous."

Shapiro also said it's Terri Franks who is distorting the truth. He provided documents supporting the value and quality of the art being sold.

"When we offer them for sale and put our certificate of authenticity on one of these works, they are completely genuine," Shapiro said.

Independent appraiser Caroline Ashley ran a complete check of the Dali work.

She placed the value of the work at more than $23,000.

"In my opinion and my research, I believe that to be true," Ashley said.

But, after that interview, Local 6 found hand-signed Dali works from the same rare series being sold for $5,700.

"Are you inflating the prices and misleading the public?" Holfeld asked.

"Absolutely, not," Shapiro said. "The other work you are referring to is not as interesting and not as visually compelling and obviously not as collectable."

"If you spend $18,000 for something, you would think it has substance behind it -- the price," Bob Dibella said.

The Dibella family wants its money back, Holfeld reported.

Park West has agreed to refund the $18,000.

The company has also filed a lawsuit against Terri Franks.

Watch Local 6 News for more on this story.
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