What if my Dalí is a fake?

If you find out from us that your print—which you always thought was a valuable original print by Salvador Dalí—is actually a fake, then you have also found out that you are part of the greatest art fraud of all times. Might as well go online and find a copy of Lee Catterall’s book The Great Dalí Art Fraud and Other Deceptions (ISBN #0-942637-63-1) and display it along with your print.

There is almost no chance that the gallery from which you bought it is still in business. If they are, they will probably claim four year Statute of Limitations protection found in the Uniform Commercial Code. Collectors who find out much later that they have been duped almost never get any money back. But wait, there may be a way…..

We are not tax advisors (or attorneys or CPA’s or dance instructors) so all we can do is direct you to the appropriate professional to answer your tax questions. What we recommend, however, is that you ask your tax preparer about the advisability of filing an investment loss return and listing the art purchase as an investment loss.