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February 2005 Market Intelligence

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Fine art

Judge dismisses claim against Liz Taylor for Van Gogh work

artnews.com

Elizabeth Taylor was named in a civil suit over Vincent van Gogh’s View of the Asylum and Chapel at Saint-Remy, 1889, which a federal judge in Los Angeles dismissed due to California’s statute of limitations. The painting, valued at an estimated $10–15 million, was originally bought by Taylor’s father at a 1963 Sotheby’s London auction. The heirs of Margarete Mauthner argued for restitution under Holocaust-era claims, but the court found the claims period had ended in 1966 and that the California statute does not apply to claims against individuals.

Fine art

UBS redefines art collection with emphasis on photography

artnews.com

UBS has appointed a curator and advisory board to guide its art collection, which includes about 900 works and is highlighted at MoMA through April 25 before an international tour. The collection features photography among other media, with focuses on strengthening core artists and expanding its photography holdings.

Fine art

Drawings by Rubens make for major Met exhibition

antiquesandthearts.com

The Metropolitan Museum of Art hosts the first major U.S. retrospective of Peter Paul Rubens drawings, entitled Peter Paul Rubens (1577-1640): The Drawings. The show includes 115 drawings, with a major loan from the Albertina and works such as Nicolaas Rubens Wearing a Coral Necklace, Ox studies, and a Saddled Horse.

Fine art

In two cases, families of victims ask court for return of Nazi-looted art

jta.org

The article discusses Elizabeth Taylor's court ruling over van Gogh View of the Asylum and Chapel at Saint-Remy, with the painting claimed as Nazi-looted art. It also covers a related case involving Picasso and Pissarro works linked to Nazi-looted provenance, including details about art dealer Stephen Hahn and the paintings Femme en Blanc and Rue de Saint Honore Apres Midi, Effet de Pluie.

Missing 18th century violin recovered

upi.com

The article reports that a rare 18th century violin made by Italian luthier Nicolo Gagliano, dated 1774, was recovered undamaged from the basement of the First United Church of Christ in Lisle, Illinois, after being stolen on Feb. 2. The instrument, valued at more than $280,000, was held as evidence and no charges had been filed at the time of reporting.

Fine art

£3.9m bidding frenzy for Freud

standard.co.uk

The nude portrait of Kate Moss by Lucian Freud sold for £3.9m at Christie's in London to an anonymous telephone bidder. The sale was near the artist's record price, but a previous Freud painting, Red Haired Man on a Chair, sold for £4,152,000 just before it.

Fine art

With a pounds-22m price tag Madonna is in the Pinks on Scottish tour review

heraldscotland.com

Raphael's Madonna of the Pinks is described as costing about pounds-22m and is on display at the National Gallery of Scotland in Edinburgh for a temporary period. The article discusses the painting's provenance, its intended export to the Getty Museum, and the campaign to keep it in Britain, funded by the Heritage Lottery Fund, private donations, and the National Art Collections Fund.

Fine art

Lawsuit over Liz Taylor’s Van Gogh dismissed

today.com

Elizabeth Taylor’s Van Gogh, View of the Asylum and Chapel at Saint-Remy (1889), was the subject of a lawsuit by the heirs of Margarete Mauthner who claimed Nazi confiscation and restoration under the Holocaust Victims Redress Act; the suit was dismissed by U.S. District Judge Gary Klausner who ruled state law allows a three-year window to sue for property taken.

Fine art

Hirst’s Shark “Disintegrating,” say conservators

artforum.com

Damien Hirst’s shark, which was recently sold for $12 million to Steve Cohen, is said to be disintegrating and will require extensive conservation work to prevent further deterioration. The assessment comes from conservation scientists and natural history specialists, who note that larger specimens are harder to preserve long-term in formaldehyde; the shark has shown visible deterioration since its 1992 Saatchi Gallery debut.

Fine art

Rumoured sale of Damien Hirsts formaldehyde tiger shark to US billionaire Steve Cohen confirmed by Saatchi Collection

theartnewspaper.com

Damien Hirst’s work The physical impossibility of death in the mind of someone living (1991) was reportedly sold for $12 million (£6.5 million) to Steve Cohen, as confirmed by the Saatchi Collection. The deal was negotiated by Hirst’s New York agent Larry Gagosian, though some traders questioned the price. The piece notes Cohen’s identity as the likely new keeper and contrasts the price with other contemporary artists.

Fine art

Judge allows suit to reclaim profits from Nazi looted art, including Picasso and Pissarro, to proceed

artnews.com

The article reports that a California judge allowed a lawsuit brought by Claude Cassirer and Thomas C. Bennigson against art dealer Stephen Hahn to proceed, seeking profits from sales of Nazi-looted works by Pablo Picasso and Camille Pissarro. The ruling applies California law for statute of limitations, potentially impacting downstream buyers and intermediaries in Nazi-era looted art cases.

Fine art

The FBI is looking for works faked by the Manhattan dealer Ely Sakhai

theartnewspaper.com

The FBI is seeking information about paintings allegedly forged by Ely Sakhai and his office manager Houshi Sandjaby, which were sold through Exclusive Art Gallery, Ltd over the last 15 years. The case involves restitution and forgeries attributed to artists such as Marc Chagall, Pierre-Auguste Renoir, Amedeo Modigliani, and Paul Klee.

Fine art

Creative strategies enhance museum collections

artnews.com

The page reports that major U.S. museums expanded acquisitions in contemporary art and photography and increased purchases from Latin America. Notable purchases include Duccio di Buoninsegna's 14th‑century Madonna and Child for $45 million by the Metropolitan Museum of Art. The article also notes collaborations between museums, such as SFMoMA and the Hirshhorn acquiring Gary Hill's Suspension of Disbelief (for Marine), and upcoming site-specific commissions by Andy Goldsworthy, Gerhard Richter and James Turrell for the de Young Museum.

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