What Art Thou?
This past Monday, one of the more anticipated Art related trials, De Sole et. al. v. Knoedler Gallery, LLC et. al. began in United States District Court in Manhattan. Sotheby’s chariman Domenico De Sole seeks $25 million in damages from the defunct gallery, and its former president (Ann Freedman), for buying a fake Rothko for $8.3 million. In 2004, they purchased a work purpoetdly by Mark Rothko titled “Untitled, 1956” that turned out to be a forgery. De Sole et. al. are seeking treble damages, as well as punitive damages, on racketeering and contractual claims at a trial before a jury before U.S. District Judge Paul G. Gardephe.
The gallery and Ms. Freedman have denied the accusations, though they admit that the works were fake. Their claim that they too were taken by an elaborate scheme to sell counterfeit art. The lawyers for the De Soles say the gallery realized, or should have realized, that the painters were fake, and that the “bargain basement” prices, amongst other signs, should have served as an indicator.
View the NY Times Article here.