French Auction Mis-Attribution Causes Conflict

Simon Hewitt writing in the Antiuqes Trade Gazette has an interesting article on a French auction held in February.  Within the sale was a painting noted as 19th century, entitled Owl on a Bare Branch, was estimated at 80-100 Euros and eventually sold for 350,000 euros.  The painting is now believed to be by Caspar David Friedrich (1774-1840), and could be worth 10 times what was paid for it.  It was purchased by dealer Paris dealers Talabardon & Gautier, but it has not been released by the auction house.

Since it was not listed with the proper attribution, a French law may nullify the purchase. The Talabardon and Gautier check has not been cashed, and the painting may be deemed a French national treasurer. It reinforces the need for proper authentication of pieces of art at every level of the market.

The ATG reports

Although the sale description of the Friedrich was not factually inaccurate (as “studio of Poussin” was deemed to have been), Bertrand Gautier fears that the discrepancy between the estimate and the hammer price could prompt a French court to annul the sale.

Even though nearly four months have elapsed since the sale, and he has yet to see his acquisition, Gautier claims to be “serene” about the situation and hopes it can be amicably resolved. “We are talking to all the parties concerned,” he told ATG. “It’s a complex situation. One could imagine there might be problems of this sort, given the price.”

Some have pointed out that French law appears to penalise dealers from exercising their business to the best of their ability: i.e. by taking risks to back their judgment. They argue that the vendors, despite their ignorance, and the auctioneers, who displayed casualness if not incompetence, are not just legally blameless but stand to benefit from the dealers’ knowledge.

Gautier believes that the situation is unjust. “This is embarrassing for everyone, and not good for the market. Part of our role is to be discoverers. But, if you discover something, you can see your acquisition challenged. It’s not the auctioneers or the vendors who suffer, it’s the buyer.”

Just the sort of mess, you might think, which the Conseil des Ventes – that uniquely French body – was designed to avoid, or at least clear up. Yet the Conseil is powerless to intervene unless solicited by one of the interested parties, and there has been no sign yet of any such appeal.

To read the full ATG article, click HERE.