The 51-year-old lost just four bouts in his over two-decade career as a boxer, having fought 42 times in that period.
One of those defeats came against Vargas in April 2000, with the American winning via a unanimous decision.
Quartey, however, believes that was the only genuine loss in his career, insisting he didn’t prepare adequately for that bout.
“The Vargas fight was my only genuine loss. I didn’t prepare well. I arrived at the camp late,” he told Joy Sports.
The former WBA welterweight champion was a household name in the sport from the late 1980s to the mid-2000s.
The Bukom-born boxer represented Ghana at the 1988 Seoul Olympic Games and went on to achieve an amazing career.
Quartey retired on 42 fights, impressively winning 37 times – 31 of which were by way of knock out – four losses and one draw.
The 51-year-old has, however, lived a quiet life away from the media since hanging his gloves in the mid-2000s.