- Home
- Private Individuals
- Case studies
- Warhol purchase
Warhol purchase
Buyer of Andy Warhol's ‘Red Elvis' cleared in law suit
The case
In 2000 a private individual, known by the name Brant purchased a painting by Andy Warhol's, ‘Red Elvis', from the art dealer Anders Malmberg. The painting was actually the property of a private collector, who had relied on Malmberg as her art advisor. Once the private collector found out that her painting had been sold without her knowledge and consent, she filed suit against both the new owner and Malmberg. The latter stood trial in Sweden and was convicted to a three-year sentence. In September 2005 the judge determined that the new owner had done his due diligence as a purchaser by checking the Art Loss Register's database for any listing of the painting. The private collector, on the other hand, had put her trust in Malmberg. Therefore the court determined that she must bear the loss. The judge ruled that the new owner had purchased ‘Red Elvis' in good faith, and that he was entitled to retain ownership of the painting.
Procedures followed
- Buyer checked item with ALR;
- Buyer checked for liens or other financial demands on the painting through Uniform Commercial Code;
- Fair market value paid.
Quotes
‘This case highlights the recognition in court of having shown due diligence through checking a prospective purchase with the Art Loss Register'. (Julian Radcliffe, chairman Art Loss Register).
Lessons learnt
- If you are unsure whether an object is traded, exported or excavated legally, check against Databases of stolen art for any listing of the item;
- Conducting due diligence (see Factsheet Due diligence processes) is a must in order to have credibility in a title dispute.
Further Information
Art Loss Register
Nicholas Wilby
Email: nick.wilby@artloss.com
Tel: +44 (0)20 7841 5780
Fax: +44 (0)20 7841 5781
