Dealer Marc Jancou has fired off a new legal volley in his battle against Sotheby’s and artist Cady Noland, filing new papers that allege an additional $20 million in damages for “breach of fiduciary duty,” according to Blouin Artinfo. The new sum is directed at the auction house and, with the $26 million from his initial filing, brings the total value of his lawsuit to $46 million. Read More
Marc Jancou, of the gallery by that name on West 24th Street, has sued both Sotheby’s and Cady Noland after the auction house withdrew a work that he had consigned by the artist, Cowboys Milking (1990), from its contemporary day sale this past fall. Another work by the artist, Oozewald (1989), sold for $6.6 million with premium, a new artist’s record, at the Sotheby’s fall evening sale (over a high estimate at $3 million), just one day before Mr. Jancou’s Noland was to have been sold. Mr. Jancou now claims that the auction house owes him $6 million in damages and that Ms. Noland owes him $20 million. Read More
As usual, the men stole the show. But the ladies, if not nipping at their heels, are at the very least catching up a bit. Let us explain.
Auction records for a number of artists, living and dead, were set last week at the biannual modern and contemporary evening sales in New York, led by the late abstract expressionist Clyfford Still, whose 1949 painting 1949-A-No.1 sold at Sotheby’s for a whopping $61 million. Later that evening, a living artist, Gerhard Richter, also made a world auction record, when his abstract painting, Abstraktes Bild (1997), brought $20.8 million. Read More