Art investment during virus target calls

halifax24

I’m worried about a friend of mine during this crisis Frederick Charles Art seem be cold calling to say they have obtained his details advising him to invest in art at this time all sounds a bit to good and I’m concerned they are using the current virus to target - I’m really worried as from what I understand of the calls they seem to be using this time - they are advising him to buy art they buy up from estates art and sell they hold the art for 2 years then you can collect they are talking about upwards of £2000 I’m worried people on there own at this time could be open to the so called art company Frederick Charles Art - I’m sure they are an ok company but just seems bit odd they are saying now is the time to invest in art and they seem very persistent with follow up calls. I’m worried for my friend as he seems very taken in by what they are saying 

Jeremy535897

There is such a company according to the internet. That does not mean it is a good investment. It is a high risk investment that is totally inappropriate for people with small amounts of capital who have no knowledge of the art market. He don't even get the benefit of seeing it on the wall (or that it exists at all). As a general point, I recommend people go on the mail preference service and telephone preference service to reduce the volume of unsolicited calls and junk mail (at least from this country).

Pollycat

Anybody - at any time, not just now - should be wary of any company who cold calls them.

How have this company 'obtained his details'?

If your friend wants to buy art, he should proactively research companies to do business with.

halifax24

Thank you they still seem to be putting pressure on his clever cold calling - I’ve had a look on company house website I’m worried this company are taking advantage of people on there own at this time 

sharpe106

If they are putting pressure on then it is not as good as they say. If it was then word of mouth would be enough. 

Jeremy535897

You are most unlikely to profit from the art market from the investment of such trivial sums after paying their no doubt substantial commission.

jfinnie

Generally, by the time folk are phoning you up to make an investment, you can be almost 99.999% certain that it is worthless.

hootisit

Please don’t buy from Fredrick Charles art  they convinced my father in law who was 72 at the time and has Parkinson’s to buy over £40,000 in art saying it would be a great investment they phoned constantly always asking for his bank card until he relented he never told us about any of this as he was so embarrassed  we found out when he moved into assisted living accommodation recently and we had to sort though his financial things he had to use all his life savings to pay for all the art he has never even seen as it’s being kept in a warehouse somewhere (seemingly) we don’t even know where to start trying o get his money back this shouldn’t be allowed to happen to vulnerable people they should be ashamed of themselves 

Grumpy_chap

It is a scam - simple as.
If there is a virus, it's still a scam.

Dr_Crypto

Never invest in things you don't understand. I'm not convinced esoteric investments are of use for lay investors whether that it art, wine, coins, precious metals, or antiques. 

mobilejo

It is a total scam, heed Hootisit's warning and tell your friend to run a mile.

The doubt in your original post as to whether it is a scam or not is literally all these conmen need to prey on - if there is even an ounce of the target that isn't sure its a scam, they will exploit it. Which is why these scams keep taking place.

Never ever ever invest with companies have that have cold called you, unsolicited. And be super vigilant even with the ones that you contact yourself!