Ended one of the most high-profile trials in the contemporary art world
ARTinvestment.RU   10 февраля 2020

The billionaire and collector Stephen Tenenbaum finally agreed with Larry Gagosyanom on conditions for the purchase of three works of Jeff Koons. In court

the First stage of history occurred in the period from 2013 to 2015, when managing hedge-фондом billionaire and Trustee of the Museum of modern art Stephen Tanenbaum bought at the Gagosian gallery, three sculptures the most expensive living artist Jeff Koons. Work at that time was not yet ready, and the collector paid for them upfront of $6.4 million.

it is Known that among purchases of Tanenbaum was "balloon Venus" for $8 million, the Sculpture was partially paid in September 2013, it was expected that it will be completed within two years. In 2015, Koons extended the anticipated date of completion for another two years. In the same 2015-м of Tananbaum decided to buy an advance two other works of Koons.

By the spring of 2018-го year and the car still was not (as there was no confirmation that they actually started to make), and he filed a lawsuit against the Gagosian gallery, and Larry himself Gagosian, accusing the latter of fraud.

Over the past two years, the parties exchanged loud statements in media, Gagosian tried several times to dismiss in the absence of the subject litigation, arguing that the alleged completion date of the sculpture was estimated, and such dates "often extended by a few years."

finally, at the end of January 2020, the parties came to amicable agreement. Details and terms of the agreement were not disclosed, but we know that all counterclaims and additional claims of the parties to each other were removed. The parties have issued a joint statement in which on the part of Koons and Gagosian says that they "look forward to further cooperation with the collector," and Tanenbaum States that "continues to be a proud collector of works g-на Koons, whom he considers one of the most important living artists". More details about the completion of this high-profile case involving advance payments results the portal ARTnews.

the Material was prepared by Maria Kuznetsova, AI

Sources: artnews.com, news.artnet.com