I've been tracking a number of lots posted recently by a California dealer. He's taken a set of American Bank Note Archive portfolios and artfully trimmed them into individual vignettes. These have been listed separately with no attribution to where they originated, just that they are "intaglio prints." Most of these sold for about what I estimate they are worth, a dollar or two. But a couple reprints of Chinese stamps went for $406 and $256. Collectively, that's about what the entire portfolio series is worth -- six sets of 12 panels each. I'm sure the buyers thought they were getting some rare undiscovered proofs. I know there's a general "buyer beware" attitude on eBay, but what's the ethical responsibility of a dealer to accurately describe his material if he knows? This has come up before in relation to banknotes being trimmed out of souvenir cards. http://cgi.ebay.com/AMERICAN-BANK-N...360?pt=LH_DefaultDomain_0&hash=item1c1a23c220 http://cgi.ebay.com/AMERICAN-BANK-N...517?pt=LH_DefaultDomain_0&hash=item19c3ebafed
Just noticed the seller had added a little disclaimer to a more recent listing: http://cgi.ebay.com/AMERICAN-BANK-N...=110661072849&ps=63&clkid=7886543205952365069
Thanks Greg. I have seen these type of listings and it really cuts me up to see someone hack up these amazing Archive portfolios which were themselves limited editions. I suppose on the other hand, the more these dealers destroy the fewer complete sets exists and potential value of the original collections could increase over time. It is surprising how often and for how little one can pick up a complete ABNCo Archive Series portfolio, now and then. I guess just like what happens with a stolen car resold for it parts nets more return than the whole single assembled vehicle, the same appears to be true of these prints as these dealers have discovered.
I don't favor of cutting up these panels either, but I see the profit motive. Assuming a seller makes $1.50-$2 per vignette, on average, that brings $12 to $15 for each panel. Multiply by 12 and that means one portfolio is worth nearly twice the going rate when it's in pieces. My real concern is for buyers--particularly foreign buyers who may not grasp English well--who must think they are getting some rare proof. Even with the disclaimer, that other Chinese "stamp" went for $411. Crazy money.
