Art Basel Sales and Nazi-Looted Modigliani Ruling
The conclusion of Art Basel in Switzerland marked a strong resurgence in the art market, highlighted by significant sales. Hauser & Wirth announced key deals, featuring a Gerhard Richter sold for $20 million and a Picasso from 1963 that fetched $35 million. In a separate legal matter, the New York Supreme Court mandated that dealer David Nahmad return the Modigliani artwork 'Seated Man With a Cane' (1918), which was looted by the Nazis, to Oscar Stettiner's grandson within a month. Furthermore, Christie's plans to launch a boutique wine shop at its Rockefeller Center location.
Key facts
- Art Basel wrapped up a solid edition in Switzerland.
- Many dealers reported steady sales as the market recovers.
- Hauser & Wirth sold a Gerhard Richter for $20 million.
- Hauser & Wirth sold a 1963 Picasso for $35 million.
- New York Supreme Court ordered David Nahmad to return Nazi-looted Modigliani painting.
- The painting is 'Seated Man With a Cane' (1918) by Amedeo Modigliani.
- The painting must be returned to the grandson of Oscar Stettiner within 30 days.
- Christie's is opening a boutique wine shop at its Rockefeller Center headquarters.
Entities
Artists
- Gerhard Richter
- Pablo Picasso
- Amedeo Modigliani
- Oscar Stettiner
Institutions
- Hauser & Wirth
- New York Supreme Court
- Christie's
- Rockefeller Center
- Artnet News
Locations
- Switzerland
- New York
- Rockefeller Center