Fraud alert!

Richmond based and legally bankrupt electronics merchant, Circuit City, recently announced it found an original Alexander Calder tucked away in one of its corporate office closets. It is now being sold on eBay and is listed as "Famous Artwork found at Circuit City." Go here for the listing.

It's being described as "Alexander Calder's 1970 Hand-Signed Lithograph 'Wave' (This is No.113 of 120 / Size: 44.5"x33.75")". At the current bid of $1,500+ this seems like a steal, right? But, hold on buckaroo. Think about it for a second and read between the lines. Here is the made up story description of the piece:

After Circuit City filed for bankruptcy, the bankruptcy judge appointed Liquid Asset Partners to handle the sale of all assets inside Circuit City's distribution centers and corporate offices. While clearing out the remaining rooms at Circuit City's corporate office in Richmond, VA, liquidators stumbled upon something special. Tucked away in one of the office closets, they found an assortment of paintings; one stood out above the others, an original Calder. The 1970 hand-signed lithograph titled "Wave" can be instantly recognized as a Calder by its abstract flow of bright contrasting colors and bold lines. Featuring his signature "Calder Red" and bright blue with black outlining, one could define Calder's work with this one piece. Liquidators set the "Wave" aside, until further decision could be made about the artwork's fate.

I smell a fake. Is eBay really the best way to sell this piece? My guess is Liquid Asset Partners did try to unload the piece in the traditional way though recognized art dealers but came up short because LAP couldn't provide an inkling of a reasonable provenience for the piece (no mention of when it was purchased, from whom it was purchased, how much it was purchased for, no invoice, no documentation – it was simply "found" in a closet). Without the proper paperwork, this thing is of virtually no value.

For me, the icing on the cake is that the folks at Liquid Asset Partners couldn't even take a half decent photograph of the piece. I believe someone is trying to pull a fast one to make an easy buck. Buyer beware.

Comments

[justin eckrich]

i couldn't imagine them stooping that low. They still have a reputation to uphold, or do they?