Thursday, August 27, 2009

More on the Peters Gallery Lawsuit

Josh Baer gets a statement from the Gerald Peters Gallery on the lawsuit mentioned here: "This lawsuit appears to be grounded in nothing more than buyers remorse, likely brought about by the economic downturn. Neither the facts nor the law support the claims made. The facts will demonstrate the gallery acted properly." Josh says "this seems like an easy case - either there is a record of an agreement allowing Waitt to rescind/take on approval works or not" (this overlooks the possibility, I think, of a contract having been formed through a course of dealing between the parties), but thinks what's really needed is "a strong arbitration process run by the Art Dealers Association that collectors (or dealers) could take complaints to."