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Art Market Lawsuits after a $40m Profit in 'Flipping.'

  1. t_swiss_t Nov 15, 2017

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    So Da Vinci's Salvatore Mundi just sold for (what is probably) more than all the lots of major watch auctions this calendar year combined - $450.3m USD. In light of this, I remembered an interesting article on it's storied past that highlights parallels between the underbelly of vintage watch sales and that of the far more expensive art market. This is obviously an imperfect comparison but it's definitely an interesting read about buying, selling, flipping, and disclosure in a market that is entirely subjective, obsessed with originality, and less honorable than many of us would like.

    https://www.nytimes.com/2016/11/28/...leonardo-sold-and-resold-at-a-big-markup.html

    Would love to hear your thoughts.

    [​IMG]
     
  2. STANDY schizophrenic pizza orderer and watch collector Nov 15, 2017

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    Do all my own research with the help of several enthusiastic and knowledgeable members.

    Cuts out having to feed and school the middleman/dealers children. ;)
     
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  3. Vercingetorix Spam Risk Nov 15, 2017

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    I am assuming that the people that are suing Sotheby’s are doing so to give more money back to the original estate sale seller.::stirthepot::
     
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  4. jakeh417 Nov 15, 2017

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    Wow, half a billion dollars @.@
     
  5. gminnj Nov 15, 2017

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    I checked on leonardo101.com.

    I think the buyer overpaid.

    ::rimshot::
     
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  6. harrymai86 Nov 15, 2017

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    Also I think for watches it would be much cheaper with security and preserve costs
     
  7. kippyk Nov 15, 2017

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    Painting is terrible! What's with the crystal ball? I have seen vans in the 70's with better prog art.
     
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  8. sevenhelmet Nov 16, 2017

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    I will never understand art. A fine watch, on the other hand...
     
  9. Deafboy His Holiness Puer Surdus Nov 16, 2017

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    Interesting development of this now notorious painting. Leonardo himself probably had little involvement.

    I liked the OP article on the shenanigans that occurred during the painting's previous sale,
    1) 113 M$ post-sale appraisal by Sotheby’s when they actually sold it for 80 M$
    2) the Swiss art dealer supposedly working on commission actually flipping the piece for a much bigger paycheck,
    3) Russian oligarch buyer.

    Nice bunch of businessmen.
     
  10. Humptymarsbar Nov 16, 2017

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    The hands are not correct for the year?
     
  11. M'Bob Nov 16, 2017

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    Art has a greater function than telling time: elevating the spirit of humanity.
     
  12. Archer Omega Qualified Watchmaker Nov 16, 2017

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    One critic wrote of this particular portrait:

    "This Jesus, far from saving the world, might struggle to save himself a seat on a crosstown bus."

    :)
     
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  13. M'Bob Nov 16, 2017

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    Agreed. I would have entitled it, "Androgynous Jesus."
     
  14. Deafboy His Holiness Puer Surdus Nov 16, 2017

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    Many of Da Vinci's paintings have an androgynous feel. Look at his St John the Baptist below. Also compare the soft, three dimensional effect that is Da Vinci's hallmark found here that is lacking in the Salvatore Mundi shown above.

    [​IMG]
     
  15. M'Bob Nov 16, 2017

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    Yes, the glazing technique on the Mundi is clearly lacking.
     
  16. kippyk Nov 16, 2017

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    I thinks it's the poster is a Phantasm Prequel.


    [​IMG]
     
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  17. M'Bob Nov 16, 2017

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    Looks like a John Currin reject.
     
  18. delmarco Nov 17, 2017

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    Funny thing about the Salvatore Mundi is that it sold for 45 quid back in 1958 when the owners didn't know what they had in their possession! Even at 45 GBP they thought they were getting too much for what was described as a "dirty, damaged and retouched" painting.

    A lot of scholars still think that DaVinci had nothing to do with this work since it was not logged by him nor mentioned in his personal writings of himself doing such a work. Albeit the Salvatore Mundi was said to be painted around a decade before Da Vinci passed away. So it is still up for debate.
     
  19. amphib44 Nov 18, 2017

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    It does appear to be a service frame. Surprised no one here mentioned it...
     
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  20. doog Nov 18, 2017

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    ... and then there’s the matter of the obviously missing crown.