Edelman Arts Sues Over $26.8 Million Sale of Haring, Munch Works

  • Buyers agent said to represent Abu Dhabi royal family member
  • Conrtacts and invoices didn’t lead to payment, suit claims

Edelman Arts, the company of former Wall Street financier turned art dealer Asher Edelman, filed a lawsuit seeking to complete a $26.8 million sale of four works by Keith Haring and one by Edvard Munch.

New York-based Edelman Arts sued Jason Holloway, who the dealer believes works for a member of the royal family of Abu Dhabi and as an accountant for the Swiss Business Council, a non-profit based in Abu Dhabi. The suit, filed Thursday in state court in Manhattan, also targets SBC and SSR Invest Switzerland, which is claimed to be SBC’s paying agent.

Work by Keith Haring

Source: Edelman Arts

The sales contract included four 1980s works by Pop artist Haring -- three large paintings and a nine-foot-tall painted wooden totem-like sculpture -- with the total price of $19.8 million and a painting by Munch, priced at $7 million, according to court papers.

Edelman Arts sent invoices to complete the deal, but received no payment, according to the complaint. During a holiday party in December, one of the Haring paintings hung on a wall inside a Manhattan townhouse that houses Edelman Arts.

"Unfortunately, it’s still here," Edelman said in an interview on Thursday. Holloway didn’t respond to an email seeking comment.

Edelman Arts specializes in private sales of modern, postwar and contemporary art. Edelman also runs an art financing and leasing company, Artemus.

The case is Edelman Arts Inc. v. Holloway, 651521, New York State Supreme Court (Manhattan).

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