Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Sotheby’s Due Diligence Catches a Cimabue

June 26, 2014 by Marion Maneker

sothebys-madonna-cimabue

Courthouse News Service has the background to a complaint filed by the US Attorney for the Southern District of New York to have a Cimabue painting that was to have appeared in the auction house’s January Old Master sale forfeited by the consignors who seem to have spirited the work out of a safe deposit box in Geneva into another nearly 25 years ago. The work is part of an estate whose heirs are in conflict

Sotheby’s, which is not accused of wrongdoing, said in an email statement that it “cooperated fully with the government on this matter.”

“We first became aware of an issue with the painting when it was flagged during our due diligence process; we voluntarily pulled the painting from auction before the U.S. government was involved and held it pending further instructions from relevant authorities,” Sotheby’s said. “We have no comment on the substance of the allegations in the government’s complaint as Sotheby’s has had no involvement in the underlying dispute.”

The complaint details a mysterious Feb. 6, 1991 report that Geneva police provided to Interpol investigating the theft allegations, which appear to involve a squabble over an inheritance from the late Camille Marie Rose Aprosio.

Courthouse News Service

More from Art Market Monitor

  • Basia Johnson Floods the MarketBasia Johnson Floods the Market
  • Christie’s Puts Bacon Higher in Auction Line Up at Last MinuteChristie’s Puts Bacon Higher in Auction Line Up at Last Minute
  • Christie’s New FeesChristie’s New Fees
  • Artsy Announces $50M Investment, Is Success In Sight?Artsy Announces $50M Investment, Is Success In Sight?
  • Sotheby’s Hong Kong Modern Evening Sale = HKD 580.2m ($74.5m) HammerSotheby’s Hong Kong Modern Evening Sale = HKD 580.2m ($74.5m) Hammer
  • With Corporate Collecting in Retreat, What to Do with All That Art?With Corporate Collecting in Retreat, What to Do with All That Art?

Filed Under: General

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...