17 March 2009

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Test Case Challenge Over Fake Jean-Michel Basquiat To limit Auction Houses Liability

New Ruling may challenge limits of auction houses’ liability Background: Tony Shafrazi, who was Basquiat’s primary dealer, says he bought the 1982 untitled piece from Christie’s in 1990 for $242,000, and resold it a year later to collector Guido Orsi. In his suit filed this month in Manhattan Supreme Court, the Iranian-born dealer, who has […]