Larry Gagosian sells Picasso after the restitution
ARTinvestment.RU   07 апреля 2020

"Female portrait" for $10 million went on sale after was returned to the heir of the rightful owner

In to The Wall Street Journal, the heirs of a Berlin collector, banker of Jewish origin of Paul von Mendelssohn-Бартольди asked the representative gallerist Larry Gagosian with a request to assist in the sale of this work of Picasso in October 2019 when the proceedings on the issue of restitution was in full swing.

Heirs of Mendelssohn-Бартольди argue that the banker has acquired this pastel portrait of Picasso in 1912, he was forced to sell it and another 15 works by other artists to keep your business after coming to power of the Nazis. According to John Byrne, lawyer of the heirs, the family was "gutted by the Nazis". As a result, in 1934, "woman portrait" was purchased by art-дилером Justin K. Thannhauser.

This figure is not the only work of Picasso from the collection of Mendelssohn-Бартольди, which regained the heirs of the collector. In 2009, they through the courts demanded new-йоркских Museum of modern art and the Guggenheim Museum to return them or compensate for the value stored of works by Picasso and Renoir. Then it was over money, and the picture remains in museums. And in 2010, a similar story has survived the Andrew Lloyd Webber after he tried to sell the work of Picasso's blue period, when-то owned by Mendelssohn-Бартольди, at auction Christie's.

And behold, last week it became known that the court ordered the National art gallery in Washington to return the figure of Picasso's heirs. According to information published in the media, the portrait was taken from a Museum representative Larry Gagosian immediately after the signing of the agreement on the return of the work to avoid possible delays associated with quarantine restrictions. It is expected that the figure will be sold in a private transaction at a price not lower than $10 million.

the Material was prepared by Maria Kuznetsova, AI

Source: wsj.com