Ronald Perelman can pursue a claim that art gallery owner Larry Gagosian used his position of trust to force the billionaire to buy a Jeff Koons sculpture of the cartoon character “Popeye” for $4 million, a judge ruled.
Mexican financier David Martinez Guzman is the seller of a 1966 Francis Bacon portrait estimated at 30 million pounds ($49 million) that’s scheduled to be auctioned next month, said two people with knowledge of the matter.
Elaine P. Wynn, ex-wife of casino mogul Stephen A. Wynn, was the buyer of the Francis Bacon triptych that fetched $142.4 million last year to become the most expensive artwork at auction, according to a person familiar with the matter.
Gallery owner Larry Gagosian is accused in two lawsuits, including one brought by billionaire Ron Perelman over a $4 million sculpture named “Popeye,” of using his position in the art world to negotiate secret deals, push clients around and manipulate prices for contemporary works.
Two entities controlled by billionaire Ronald Perelman are “sophisticated” art investors whose lawsuit against gallery owner Larry Gagosian should be dismissed, lawyers for Gagosian told a New York state judge.