Art Market Monitor

Global Coverage ~ Unique Analysis

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

Perelman Opens New Front in War with Gagosian, Wants Access to Gagosian-Mugrabi Transactions

August 18, 2014 by Marion Maneker

 

Twombly, Leaving Paphos Ringed with Waves
Twombly, Leaving Paphos Ringed with Waves

Ron Perelman’s not done with Larry Gagosian. He’s launched a new line of inquiry with the dealer over a Twombly he tried to buy in 2011 that Gagosian said was for sale for $8m, then claimed had been taken off the market by a buyer only to become available again a few months later for nearly 50% more. Perelman says Gagosian was using Jose Mugrabi as a buyer of convenience. Now he’s suing to see all of the dealings between Gagosian and Mugrabi over the last four and a half years, according to the New York Post:

Perelman wants to see how other deals with the Mugrabis went down — and whether the Twombly sale was “manufactured to enable [Gagosian] to extract an unwarranted premium for the painting,” he says in court papers.

His subpoena demands that Gagosian and the Mugrabis hand over information about all of their transactions from January 2010 to today.

But they’ve balked at the inquiry, insisting it has nothing to do with the Twombly painting at the heart of the lawsuit. They claim the subpoena is an attempt to “harass” them.

Manhattan Supreme Court Justice Saliann Scarpulla, who is overseeing the case, has acknowledged that Gagosian “has enormous power to influence, and even set, the markets for the artists he represents because of his . . . access to the largest private collections in the world.”

Perelman wants the judge to order the Mugrabis to uphold the subpoenas.

Perelman subpoenas gallerist as lawsuit rages on  (New York Post)

More from Art Market Monitor

  • Loeb Gets ISS Support for 2 Board SeatsLoeb Gets ISS Support for 2 Board Seats
  • Gleadell Re-mixedGleadell Re-mixed
  • Art’s Lowest DenominatorArt’s Lowest Denominator
  • What’s Hot in Israeli ArtWhat’s Hot in Israeli Art
  • O'Neal: Warhol Gave Me Farrah PicO'Neal: Warhol Gave Me Farrah Pic
  • New DirectorsNew Directors

Filed Under: Collectors, Dealers

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...