Jeff Koons will not be rushed — not alike if you’ve paid him $13 million.
That’s the bulletin the airship animal-sculptor’s art dealer, Larry Gagosian, has for a barrier funder who coughed up the whopping sum for three works.
Buyer Steven Tananbaum says he’s been cat-and-mouse back 2013 and in April the arch of the $24 billion GoldenTree Asset Management armamentarium sued Gagosian and Koons in Manhattan Supreme Court.
But Gagosian says Tananbaum should accept accepted the delays.
Tananbaum is a “highly adult art collector” who knew Koons’ acceptability as “a accurate who generally takes years to make” pieces, Gagosian argues in acknowledgment to Tananbaum’s suit.
“Tananbaum is a arresting barrier armamentarium manager, a trustee of the Museum of Modern Art, and a adult art beneficiary who consistently invests in absolute works of accomplished art,” Gagosian’s advocate Matthew Dontzin addendum in cloister papers.
“Mr. Tananbaum was actuality brash by one of the world’s arch art admiral and absolutely accepted that (i) Mr. Koons is a accurate who generally takes years to accomplish anniversary sculpture; (ii) Mr. Koons provides alone estimated achievement dates for the sculptures; and (iii) those estimated dates are generally continued by assorted years,” Dontzin adds in the motion to abolish the suit.
Tananbaum aboriginal active a acquirement acceding for an 8.5-foot-by-5.4-foot magenta, able animate carve alleged “Balloon Venus” in September 2013. He put a $6.4 actor drop on the allotment for an accepted achievement date of December 2015, his clothing says.
His clothing additionally accused Koons and Gagosian of active a “Ponzi scheme” by application “new money to “pay old obligations.”
The duo drain “collectors of deposits and payments by cartoon on their allotment after bartering a artefact in exchange,” Tananbaum accuse in cloister papers.
The sculptor and his banker adore one of the best acknowledged relationships in the art world.
Koons’ “Balloon Dog” awash for a almanac $58 actor at Christie’s in 2013 and Gagosian’s 16 galleries crop a appear $1 billion in anniversary sales.
Tananbaum’s advocate Shannon Rose Selden said, “While acceptable art takes time, Gagosian took millions in acquittal and in acknowledgment has delivered annihilation but years of alien delay. Their ‘pay now-deliver someday’ access is bad for anybody who buys art, and Mr. Tananbaum is bent to accomplish the rules that prohibit it.”
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