filter_list Showing 2 results for "The Dispute" close Clear
search
dashboard All 26 article news 16gavel restitution 5trending_up market 2article policy 2museum exhibitions 1
sort Sort star Relevance trending_up Momentum schedule Recent source Most Covered visibility Most Read
date_range Range Today This Week This Month All
Subscribe
trending_up market schedule May 19, 2026 visibility 11 link 5 artists, 1 gallery

Art Lender Accuses Maddox Gallery of Inflating Value of Art Used as Collateral—’Bizarre and Irrational’ Claim, Says Gallery

Luxury Asset Capital (LAC) has filed a civil complaint in the US District Court for the Southern District of New York accusing Maddox Gallery of inflating the value of artworks used as collateral for loans. The dispute stems from a 2023 deal in which Maddox provided substitute collateral—works by Duncan McCormick and Albert Willem—in exchange for a George Condo painting previously held by LAC. LAC alleges that Maddox engaged in a "pump and dump" scheme, artificially bidding up auction prices for McCormick and Willem works to 10–15 times pre-sale estimates, then using those inflated values to justify trades. After the alleged bid-rigging stopped, auction prices fell, and LAC claims it is left with works worth only a fraction of what Maddox represented. Maddox Gallery co-founder Nick Sharp denies the claims as "bizarre and irrational," calling the lawsuit a baseless attempt to unwind a voluntary agreement.

newspaper ARTnews open_in_new Read original
trending_up market schedule Apr 28, 2026 visibility 26 link 5 artists

Wildenstein dispute over Monet work highlights art market opacity

A long-running dispute involving the Wildenstein art dynasty has resurfaced over a 2004 transaction for Claude Monet's *Adolphe Monet Reading in a Garden* (1867). The painting was acquired by Guy Wildenstein through a €4.5m deal that included works by Pierre Bonnard and Alfred Sisley, among them Monet's *Marine, Amsterdam* (1874). That work was later resold via Christie's, but a 2020 sale attempt revealed that the original canvas had been lost during a transfer process, significantly reducing its value. Court-appointed specialists concluded in 2024 that the alteration predated the transaction and that the gallery likely knew of the damage. The sellers have filed a claim alleging "vitiated consent" under French law, with a court date set for 7 May in Rouen. The disputed Monet now reportedly belongs to billionaire Larry Ellison.

newspaper The Art Newspaper open_in_new Read original

Sourced from 43 outlets. Updated continuously.

Subscribe to News Digests  ·  Manage Preferences  ·  Vasari Streaming Art