Bloomberg – Moscow-based art dealer Gary Tatintsian has sued New York’s Luhring Augustine Gallery alleging breach of agreements on $3 million of art by artists George Condo and Richard Prince, according to a complaint filed Aug. 11.

In April 2008, Tatintsian, one of the first promoters of contemporary Western art in Russia, agreed to pay $2.7 million for 12 new Condo paintings at $225,000 each, according to the complaint filed in New York State Supreme Court in Manhattan. The price reflected a 30 percent discount from Condo’s “minimum retail price” of $325,000, according to the filing.

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Tags: art dealer, bloomberg, george condo, luhring augustine gallery, manhattan, New York, paintings, russia, state supreme court

Boston Globe – It’s been a bad few months for New York financier J. Ezra Merkin. First, his hedge funds lost $2.4 billion in the Bernard Madoff swindle. Then, he lost his post as chairman of GMAC Financial Services.

Now, he’s parting with his prized art collection.

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Tags: abstract expressionist, alberto giacometti, art collection, bernard madoff, boston globe, ezra, financier, fraud, gmac financial services, hedge funds, impressive collection, lawsuits, mark rothko, merkin, paintings, sculptures, trove