News articles that make you laugh.

midlifecrisis

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Wack61

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Watching fake or fortune

An English guy bought a painting in Monaco which he's convinced is an original Reynolds so fake or fortune are investigating

Only they've just spoken to a French lawyer , there's a law which could cancel the sale if it turns out to be genuine , so if the seller sells it for €500 and it turns out to be worth much much more a French court could order the painting to be returned and the sale cancelled

The kicker is an English court could also do the same, applying French law in an English Court

So the guy is on a lose lose , if it's fake he bought a fake , if it's real they'll take it off him

There is a limitation of 5 years , but it's not from the date of the sale, it's from the date the seller finds out he sold a €millions painting for €500

How on earth can secondhand businesses buy and sell legally in France or Monaco, all business buys low and sells high
 

Phil H

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4,171
And at the end he still didn't quite know what he'd got. They have had a few good finds along the way.
 

midlifecrisis

Member
Messages
16,238
Watching fake or fortune

An English guy bought a painting in Monaco which he's convinced is an original Reynolds so fake or fortune are investigating

Only they've just spoken to a French lawyer , there's a law which could cancel the sale if it turns out to be genuine , so if the seller sells it for €500 and it turns out to be worth much much more a French court could order the painting to be returned and the sale cancelled

The kicker is an English court could also do the same, applying French law in an English Court

So the guy is on a lose lose , if it's fake he bought a fake , if it's real they'll take it off him

There is a limitation of 5 years , but it's not from the date of the sale, it's from the date the seller finds out he sold a €millions painting for €500

How on earth can secondhand businesses buy and sell legally in France or Monaco, all business buys low and sells high
So if a French Antique dealer buys some old tat and then sells it as tat for a reasonable profit, finds out that its a genuine antique, the dealer can reclaim it and flog it as genuine at a much higher price. But what's to stop the original owner claiming it off the Antique dealer? Caveat Emptor!