Tag Archives: painting
New York Supreme Court Denies Fraud Claim Over Sale of Gauguin’s Paysage aux Trois
Mandarin Trading purchased Gauguin’s Paysage aux Trois for $11.3 million based on the appraisal of a world renowned Gauguin expert. Mandarin later came to find the painting was worth only $9 million, and the appraisal on which it relied was written by the company that in part was selling the painting. Mandarin sued, but a [...]
The Sale of a Painting Gone Wrong, Pt. 1
A recently decided New York case contains several interesting lessons for art dealers. First, you may be liable for the acts of another: if you authorize someone to sell a painting for you, or if you even “reasonably give the agent an appearance of authority,” you will not only be liable for the agent’s contracts, [...]
Who is considered an Art Merchant under New York Arts and Cultural Affairs Law?
When buying or selling art in New York, one should be aware of whether he or she is dealing with an “art merchant.” This was one of the central issues in a dispute between Tom Wesselmann and International Images, Inc.
The Sale of a Painting Gone Wrong Pt. 2