Sunday, January 13, 2019

"The divorce also threatens to expose the private dealings of one of the wealthiest and most influential families in the art world. Mr. Mugrabi, 47, is the scion of a powerful art-dealing family that is reportedly worth $5 billion and owns some 1,000 works by Warhol, making it the world’s largest private holding."

The New York Times on Libbie and David Mugrabi's divorce.

"[A]s long as dealers who show a lot of women artists pay those artists i am good with the dealer cheating on her taxes. It’s a wee bit bad-ass too. But you want ‘em to pay taxes, cool by me. She has to now. You win." (UPDATED)

Tweets Jerry Saltz, who was one of many "prominent art world figures" who wrote letters to the sentencing Judge on Mary Boone's behalf.

Paddy Johnson isn't having it:

"Taxes pay for food stamps, Medicare and the NEA. It’s not bad ass to opt out of those responsibilities so you can make improvements to your million dollar apartment and not stealing from your artists too doesn’t make it any better."

Nor is Rachel Wetzler:

"I'm not exactly cheering for Mary Boone to go to prison, but how warped does your worldview have to be to believe that it's OK for a millionaire to dodge taxes because you like her gallery programming?"

Nor is Columbia's Shamus Kahn:

"Spare us your righteous indignation about elites. Guess it doesn’t apply when they’re liberal and your friends."

UPDATE:  Saltz waves the white flag:  "BOY did I call this one wrong."

Wednesday, January 09, 2019

"Christie’s Sale of Francis Bacon Painting Draws Suits"

The work had been pledged as collateral for a $4.9 million loan. Details here.  Felix Salmon declares the suit "BONKERS."

"Mary Boone, Art Dealer, Cites Early Trauma in Bid to Avoid Prison" (UPDATED)

New York Time story here.  She plead guilty in September to tax fraud.  Sentencing is scheduled for later this month.

UPDATE:  Prosecutors are seeking 30 to 37 months.