Paybacks

$6 Million in Art Seized Before Art Basel Miami

U.S. Marshals seized four works, valued at over $6 million, from the Gmurzynska Gallery stand last Wednesday, but returned them 90 minutes before Art Basel Miami Beach opened to the initial VIP guests. A Degas Jockeys, a 1920s Miró abstract, a Léger, and an Yves Klein were taken in connection with a lawsuit against the gallery filed by Edelman Arts Inc. According to the claim, Gmurzynska owed Edelman Arts, run by art dealer and Wall Street investment banker Asher Edelman, $767,400 for alleged damage to a Robert Ryman painting that the dealer consigned to the gallery. Last Thursday evening, the gallery issued a statement saying the insurance dispute had been resolved and that the four apprehended works had been returned to the walls of Gmurzynska’s exhibition space. Gallery co-owner Mathias Rastorfer said, “We categorically deny that the gallery has any fault or liability,” alluding to the fact that the settlement has left some hard feelings.