Crypto mogul Justin Solar, who made headlines for buying – and consuming – Maurizio Cattalan’s banana paintings final 12 months, is suing billionaire collector and leisure govt David Geffen over a $78.4 million Alberto Giacometti sculpture that he claims was stolen.
Solar bought Le Nez at Sotheby’s in 2021, and now claims that his artwork advisor, Xiong Zihan Sydney, went rogue and orchestrated the sale to Geffen via an elaborate string of fabricated paperwork and cast signatures.
Whereas, Solar beforehand “expressed an curiosity” find a purchaser who would pay greater than $80 million. Solar claims that the advisor made a deal with out his information, exchanging the Giacometti for 2 artworks from Geffen’s assortment, collectively price $55 million, together with $10.5 million in money. Court docket papers say that he by no means gave his advisor the authority to barter a deal – solely to make inquiries.
Then, why sue Geffen? In his lawyer’s phrases, Solar is a “comparatively new collector” and “not as aware of the fashionable and modern artwork market” as Geffen. The collector alleged that Geffen’s group ought to have observed purple flags within the transaction, together with the “involvement” of a pretend lawyer.
Solar stated that he has contacted Geffen’s attorneys, demanding the return of the statue or $80 million – his preliminary asking worth – in damages.
Tibor Nagy, a lawyer for Geffen, launched a press release to the New York Instances by which he characterised Solar’s allegations as “vendor’s regret” and referred to as the claims within the lawsuit “weird and baseless.”
