Stuart Pivar, an 88-year-old New York artwork collector, is suing his lawyer for $200 million for allegedly tricking him into promoting a Constantin Brancusi bronze to him for a lot lower than what it’s value, Artnet studies.
Pivar alleges Philadelphia legal professional John McFadden approached him with a plan to promote the Brancusi to Christie’s public sale home or the Philadelphia Museum of Artwork underneath his personal title, a tactic McFadden claimed could be advantageous to each males on account of his stature within the artwork neighborhood. (McFadden was named to the board of the Barnes Museum in Philadelphia earlier this 12 months and was a trustee of the Philadelphia Museum of Artwork till 2014, although the circumstances of his exit are murky.)
Based on Pivar, McFadden picked up the sculpture from the collector’s West Aspect condo to convey it to the museum for the ultimate sale (itself a extremely uncommon circumstance for such a high-end sale). Images filed to the court docket present McFadden leaving with the 50-pound work.
“We prompt that we use a daily transporter to convey the factor to Philadelphia, however he didn’t need to do it that manner,” Pivar mentioned.
Two weeks later, McFadden returned with a contract for him to buy the work for $100,000, a part of the plan to promote it underneath his title. Pivar signed the contract.
Nevertheless, in keeping with Pivar, when he requested his legal professional concerning the deal a couple of days later, McFadden allegedly emailed that the deal was closing and the sculpture would stay in McFadden’s possession perpetually.
The criticism doesn't give a greenback worth for the work, titled Mademoiselle Pogani II, however the public sale document for a Brancusi is $71.18 million, set in 2018.
McFadden has but to reply to the criticism.
Post a Comment