Connect with us

Hi, what are you looking for?

Jewish Business News

Art

Leon Black Wins Picasso’s ‘Bust of a Woman’ as Legal Drama Ends

The battle involved the Qatar royal family; Gagosian Gallery claimed it bought the Picasso sculpture for $106 million

Picasso’s 1931 sculpture Bust of a Woman

 

Billionaire Leon Black won the international legal case over Picasso’s 1931 plaster sculpture, “Bust of a Woman” (the artist former lover Marie-Thérèse).”

Leon Black of Apollo Global Management, is MoMA’s co-chairman and he owns collection of artworks such as Edvard Munch’s “The Scream.”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

An international custody battle broke out in January after Ms. Widmaier Picasso sold the “Bust” to Mr. Black through a New York gallery, Gagosian, for around $106 million, a record-high sum for any Picasso sculpture. Pelham and Seydoux contested the deal, saying they had already agreed to pay around $42 million for the same piece on behalf of the Qataris two years earlier.

The artwork was for years possession of Maya Widmaier Picasso, a daughter the artist had with Marie-Thérèse. Last year she sold the sculpture to Mr. Black through a New York gallery, Gagosian, for around $106 million.

 

Leon black Apollo

 

 

But art agancies Pelham and Seydoux, agent for Sheikh Jassim bin Abdul Aziz Al-Thani and the Qatar Museums Authority,  claimed they had already agreed to pay about $40 million in a transaction negotiated by her son, two years earlier.

The two sides filed competing lawsuits in January in Manhattan federal court.

“We are pleased that the dispute between the Picassos and Pelham has been settled and Mr. Black will receive his sculpture, ” the gallery said in a statement on Wednesday. “Today’s settlement shows without question that the Gagosian Gallery purchased and sold this sculpture in good faith and without any knowledge of Picasso and Pelham’s prior dealings, as we have said all along.

 

 

Picasso’s 1931 sculpture Bust of a Woman

A sculpture of Pablo Picasso’s mistress and model, Marie-Therese Walter, on view in a current exhibition at the Museum of Modern Art, New York, has leaped into the limelight with a court battle over More…

 

 

 

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.