The Art Newspaper – Leonardo case exposes back-room deals
LONDON. A High Court judgment involving dealers Daniella Luxembourg and Simon Dick inson has ruled that Dickinson’s company took an unlawful commission on a $7m Leonardo drawing. The two dealers negotiated the sale ofMadonna and Child with St Anne and a Lambfrom a Liechtenstein foundation associated with the Sackler family to an American buyer.
Dickinson’s company re ceived a $1m commission on the 2007 deal without the knowledge of the Liechtenstein seller, the Accidia Foundation. The court found that he had been “unwise” not to check that the seller had authorised the arrangement. This judgment is therefore likely to have major ramifications for the London art trade.
The civil case also led to disclosures about commissions and payments. These included $500,000 to Gheri Sackler (a former wife of philanthropist Mortimer Sackler), $500,000 to Luxembourg’s company, $50,000 to Marie-Lucie Bisiaux (Dick inson’s Paris director) and £110,000 to Gloria Cohen (advisor to the buyer). The private treaty sale to the American buyer was arranged by London-based Simon C. Dickinson Ltd, which received $1m above what was passed on to Luxembourg Art Ltd.
Leonardo case exposes back-room deals | The Art Newspaper.