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August 2015 Market Intelligence

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Fine art

Court rules hospital can keep late heiress’s $3.5 million Manet painting

news.artnet.com

The article reports that a Manhattan judge ruled Mount Sinai Beth Israel could retain donations including an Édouard Manet painting donated by heiress Huguette Clark. The painting, Pivoines dans une bouteille, later sold for $3.5 million at Christie’s New York. The court found the estate’s claims time-barred, while allowing separate claims against two doctors and a nurse.

Fine art

French art dealer Gailord Bovrisse slapped with $800,000 judgment over fake Chagalls

news.artnet.com

Gailord Bovrisse, a French art dealer, and his New York entity Golden Trade Fine Art were ordered to pay $800,000 in a judgment won by Opera Gallery and Najell Investments over two fake Marc Chagall paintings. The July 28 ruling in the Central District of California also found breach of contract; plaintiffs sought about $2.4 million plus lawyers’ fees. The case notes that Bovrisse admitted lacking sufficient evidence of authenticity and failing to conduct due diligence.

Fine art

The quiet man of Boston’s art scene - The Boston Globe

bostonglobe.com

The article discusses Edward C. 'Ned' Johnson III, chairman of Fidelity Investments, quietly building a valuable art collection in New England and often donating or lending works to museums; it highlights a specific piece, Benjamin West’s “Devout Men Taking the Body of Saint Stephen,” acquired for $2.85 million and donated to the MFA. It also notes the Brookfield Arts Foundation, Johnson’s philanthropic arm, and its growing assets and art acquisitions.

Fine art

What artworks did billionaire Elaine Wynn get from her divorce?

news.artnet.com

Elaine Wynn, known for her $142 million Francis Bacon triptych purchase at Christie’s, reportedly divided her personal art collection with ex-husband Stephen Wynn after their 2010 divorce. The artworks Wynn retained included a 1880 Édouard Manet pastel of Suzette Lemaire, an abstract painting by Joan Mitchell, and a textile work by Jim Hodges.

Fine art

Sigmar Polke estate loses case against collector

artforum.com

Sigmar Polke estate loses case against collector. The High Regional Court of Cologne ordered the return of a Polke painting, known as Propellerfrau, to a Cologne-based collector who had purchased the work in 2007 for about $111,455.

Fine art

Picasso painting seized by French customs returns to Madrid museum

abc.net.au

The painting Head of a Young Woman by Pablo Picasso, valued at about $37-39.6 million, was seized by French customs off Corsica and transferred to the Reina Sofía Museum in Madrid. The work is owned by Jaime Botín and had been declared unexportable by Spanish authorities due to its cultural significance.

Violin found 35 years after theft

irishexaminer.com

The Ames Stradivarius, made in 1734 by Antonio Stradivari, was stolen from Totenberg decades earlier. It was found in June after a woman brought it to New York for appraisal and FBI custody was involved; Nina Totenberg confirmed the instrument’s recovery.

Priceless Stradivarius violin recovered after 35 years

abc.net.au

A priceless Stradivarius violin, made in 1734 and stolen in 1980 from Roman Totenberg, was recovered after about 35 years. The instrument was located in the home of the widow of musician Phillip Johnson and reported to the FBI before being returned to the Totenberg family.

A violinist’s Stradivarius is returned to his family 35 years after it was stolen

latimes.com

The Los Angeles Times reports on the return of the Stradivarius owned by Roman Totenberg to his daughters Nina, Jill, and Amy Totenberg after being stolen in 1980. FBI art crime unit agent Christopher McKeogh facilitated the return at a Manhattan event, with the violin previously suspected to be stolen by violinist Philip Johnson, whose ex-girlfriend raised suspicions but evidence was lacking.

Recovered Stradivarius returned after 35 years

fbi.gov

The FBI returned a rare Stradivarius violin made in 1734 to the heirs of deceased violinist Roman Totenberg after it was stolen in 1980. The instrument was recovered by the FBI’s Art Crime Team and surfaced at a Manhattan hotel before being returned to the Totenberg family. Two bows stolen with the violin remain missing.

Stradivarius stolen from NPR reporter’s father in 1980 returned to family

theguardian.com

The Guardian article reports that a Stradivarius violin stolen in 1980 from Roman Totenberg, NPR reporter Nina Totenberg’s father, has been recovered and returned to his daughters Nina, Jill and Amy. The piece notes Totenberg’s career and that the violin was snatched after a concert in Cambridge, Massachusetts in May 1980; it also mentions the family receiving the instrument back in a ceremony in New York.

Stolen Stradivarius violin returned after 35 years

newsweek.com

Newsweek reports that the Ames Stradivarius violin, once owned by Roman Totenberg, was returned to his family after 35 years following a tip to the FBI. The instrument, made by Antonio Stradivari in 1734, was recovered after being discovered in an ex-wife's house; U.S. Attorney Preet Bharara commented on the joyful ending of the case.

A rarity reclaimed: stolen Stradivarius recovered after 35 years

ijpr.org

NPR reports by Nina Totenberg about the recovery of Roman Totenberg's stolen Stradivarius violin, which had disappeared from the Longy School of Music in Cambridge and was recovered after more than three decades. The article includes the Totenberg family's account and notes the instrument's prior owner, Roman Totenberg, who died in 2012.

Stolen Stradivarius recovered after 35 years

eu.usatoday.com

The Ames Stradivarius, a Stradivarius violin made in 1734 by Antonio Stradivari, was recovered after 35 years. The instrument was previously in the possession of Roman Totenberg and was recovered in June with the involvement of Nina Totenberg and an FBI investigation.

Stolen centuries-old Stradivarius violin returned 35 years later to prodigy violinist's daughters

abcnews.com

The article reports that a centuries-old Ames Stradivarius violin, crafted in 1734 and owned by the late violinist Roman Totenberg, was stolen in May 1980 and recovered by the FBI 35 years later, returning to Totenberg's three daughters in New York. The violin is valued around $200,000 and was associated with luthier Antonio Stradivari; it had been last seen at Totenberg's office.

Fine art

Smuggled Picasso painting worth $27.4 m seized in Corsica

artnews.com

Pablo Picasso Head of a Young Woman (1906) was seized in Corsica. The painting, valued at $27.4 million, allegedly left Spain illegally and was en route to Switzerland; it is reported to be owned by Spanish banker Jaime Botín.

Fine art

A Picasso worth $27 million seized by customs in France

cnn.com

Pablo Picasso's painting Head of a Young Woman, valued at about 25 million euros (roughly $27 million), was seized by French customs on a yacht in Corsica. The work is owned by Spanish banker Jaime Botin and was allegedly being shipped illegally to Switzerland; authorities noted it was declared a cultural asset and should not have left Spain.

Fine art

Acquisitions of the Month: July 2015

apollo-magazine.com

Acquisitions of the Month: July 2015 discusses notable new additions to public collections in July, including Giovanni da Rimini works at the National Gallery, London, and MoMA’s acquisition Untitled (Havana 2000) by Tania Bruguera, among others.

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