How Did They Get Into the Picasso Mess?

The New York Times has added to its story on the Gagosian case over the Picasso Buste de Femme summarizing Gagosian’s complaint to create a timeline of events. Starting with the 2011 date, which precedes the creation of Connery, Pissarro, Seydoux (a partnership that disbanded last year) in 2012, Gagosian essentially claims CPS went around him to get to Maya Widmaier Picasso and buy the work for well below market value.

No one looks particularly good in Gagosian’s telling, except Guy Bennett who made a great deal for his clients, of this tale:

In 2011, his Chelsea gallery exhibited the plaster bust along with other work inspired by the relationship between Picasso and Walter, who were Maya Widmaier-Picasso’s parents (the pair never married). The show prompted several bidders to offer “more than $100 million for the work,” Mr. Gagosian’s court papers say.

According to Pelham’s filings, Ms. Widmaier-Picasso originally agreed to sell the sculpture in November 2014 through the art dealers Connery, Pissarro, Seydoux, a now disbanded firm, to Pelham […].  In court papers, Mr. Gagosian questions how Pelham managed to secure Ms. Widmaier-Picasso’s “supposed consent to such an unreasonably low price,” referring to the $42 million […].

After consulting with her daughter Diana, who reminded her mother of the offers in excess of $100 million, Mr. Gagosian’s papers say, Ms. Widmaier-Picasso contested the sale as “null and void,” returning the 6 million euros (roughly $6.5 million) of the purchase price that Pelham had paid so far. According to Pelham’s court papers, Ms. Widmaier-Picasso’s counsel, Sabine Cordesse, asked in April 2015 that the sale to the royal family be canceled. Pelham says Ms. Cordesse “told them that Widmaier-Picasso lacked mental capacity” to agree to the transaction “due to purported medical issues.” Ms. Cordesse, reached on Tuesday in Paris, declined to comment.

Picasso Bust at Center of Custody Battle Between Gagosian and Qatar Royal Family  (The New York Times)