Swiss Art Dealer Sues Getty Museum for $77 Million

A statue from the Torlonia collection.
A statue from the Torlonia collection.
(Fondazione Torlonia onlus)

In a federal lawsuit on Jan. 12, a Swiss art dealer claimed that the Getty Museum in Los Angeles unfairly dropped it from a deal for a portion of a multi-billion dollar private collection of Roman antiquities that the dealer was brokering, reports Courthouse News.

Phoenix Art, of Geneva, claims the Getty Museum has a “history of dubious acquisitions and trouble with Italian authorities,” and that it helped smooth the deal for the acquistions until the museum “stole the value of years of work and relationships cultivated by plaintiffs in violation of their contractual and legal duties,” according to court documents.

Phoenix claims it was contracted by Rome's aristocratic Torlonia family to sell works from their unparalleled collection of Roman statues. The dealer alleges that after much of the research and negotiating was done, the Getty cut them out, violating a non-circumvention contract.

Phoenix’s agent, Petrarch LLC dha Electrum, and Regulus International Capital Corp., are co-plaintiffs in the suit, demanding from the Getty $77 million for fraud, breach of contract, breach of faith, tortious interference, unjust enrichment, unfair competition, misappropriation of trade secrets and conversion.

More News Feed Headlines

N.C.  Wyeth's Island Funeral

3 Museums Receive Gifts of Artwork from DuPont Collection

  • March 23, 2017 12:16

Prior to its merger with Dow Chemical, DuPont Co. is gifting nearly two dozen works by N.C., ...

Read More

Clare McAndrew

Art Basel's 2017 Global Art Market Report Released

  • March 22, 2017 14:09

In Hong Kong, Art Basel and UBS released The Art Market, a new annual global art market analysis ...

Read More

U.S.  Immigration and Customs Enforcement (ICE) repatriated five illegally smuggled ancient artifacts to the government of Egypt, including a mummy hand from the 8th century BCE, in Dec.  2016.

U.S. Received Influx of $100 Million in Artifacts from Egypt and Turkey in 2016

  • March 22, 2017 13:50

Live Science reports that about $50 million in artifacts were shipped from each Egypt and Turkey ...

Read More

Interior of 3 East 89th Street

National Academy Museum Buildings Return to Market in 3 Listings

  • March 22, 2017 11:52

Financial needs placed the palatial Upper East Side mansions occupied by the National Academy ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

 
Schwenki Auctioneers - 20th Century Decoration and Design Fine Estates Auction - March 29

ArtfixDaily Artwire