Art Investment

Larry Gagosian is suing art-дилером Qatari dynasty from-за bust by Picasso for $100 million

The parties do not agree about who exactly and at what price promised to sell the sculpture, "Female bust" in 1931 Maya Weidemeyer-Пикассо — daughter of Picasso and Marie-Терез Walter

a Valuable sculpture of Pablo Picasso was the cause of an intricate litigation, which involved the world-famous art-дилер Larry Gagosian, on the one hand, and members of the ruling family of Qatar, on the other. Plaster "Female bust (Marie-thérèse)" in 1931 originally belonged to Maye Weidemeyer-Пикассо — daughter of the artist and his Muse Marie-Терез Walter. 80-летняя the owner promised to sell it. The trouble is that she promised it twice: first agent of Qatar Sheikh Jassim bin Abdulaziz al-Тани (husband of Sheikha al-Маяссы, head of the office of museums Qatar), and after — Larry Gagosian. The first agreement on the sale of the sculpture with the firm Pelham Holdings, representing the interests of the Sheikh, was signed in November 2014. The amount of the transaction amounted to 38 million euros (42 million dollars). However, in may 2015, an agreement was signed for the sale of the sculpture already with Larry Gagosian — in the amount of 106 million dollars.

the Deal was signed Gagosian allegedly brokered daughter Maya — Diana Weidemeyer-Пикассо, with which the art-дилер worked closely in the past in the preparation of exhibitions of her grandfather. After a new, undoubtedly more favorable price had been agreed, in Pelham Holdings has submitted a letter stating that elderly Maya Weidemeyer-Пикассо, so to speak, did not know what they did, promising to give a sculpture for €36 million According to the representative of Maya, she could not speak a full party in negotiations "for medical reasons", her mental health can be questioned. The Deposit was sent back to Pelham Holdings.

Larry Gagosian, in his words, has already paid the family of Weidemeyer-Пикассо of $79.7 million, i.e. 75 % of the transaction amount. The sculpture he already promised his client, new-йоркскому collector. The new owner must receive the sculpture after the exhibition at MOMA, where "Female bust (Marie-Терез)" is one of the main exhibits. Only, of course, if the transfer process does not delay the litigation with Pelham Holdings.

Larry Gagosian tries to emphasize that not suing the Qatari family, and with their agent; art-дилер "regrets that the Sheikh, a long-time friend of his gallery, became involved in this matter." Of course, who wants to spoil relations with one of the most generous buyers in the global art market.

Sources: nytimes.com, artnet.com, artinvestment.ru


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