.New york city's Jack Shainman Picture has actually filed a claim against enthusiast James R. Hedges IV, affirming that he is obligated to pay virtually $300,000 for the purchases of 19 art work that the picture had actually consigned to him.
The case, which was actually submitted in the Supreme Court of the Condition of The Big Apple on Friday, declares that Hedges and also his gallery, the Santa Monica-- based Hedges Projects, were consigned these jobs via statements courted between June 2022 and also Might 2024. Hedges and also his gallery are actually charged of being obligated to repay $298,772.72.
Hedges has actually called himself "the best individual for Warhol digital photography," claiming in his profile that he possesses the biggest personal compilation of photographs by the Stand out artist. He has curated programs of Warhol's photos, including one in 2020 at Port Shainman Gallery accommodated before the beginning of the pandemic in Nyc. He likewise presented a marketing program of Warhol's fine art with Gagosian picture in 2022.
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The kid of a collection agency of self-taught artists, Hedges centered full-time on fine art starting in 2013, the year that he departed the planet of investment banking, depending on to the Art Newspaper. Along with collecting art, he has served as a trustee to the Dia Art Structure and has been actually a patron of the Gallery of Modern Fine Art in New York, the Aspen Fine Art Gallery in Colorado, and the Tate gallery system in the UK. He is actually currently conservator for the arts at the the Hotel Bel-Air as well as the Beverly Hills Accommodation and Bungalows in Los Angeles.
Jack Shainman Exhibit was actually started in 1984 and currently embodies performers including Lynette Yiadom-Boakye, Kerry James Marshall, Nina Chanel Abney, as well as Rose B. Simpson. In January, the gallery opened up a brand new 20,000-square-foot room in Tribeca.
Friday's case carried out not information the arts pieces Jack Shainman Picture had actually committed to Hedges as well as his gallery, taking note only that both were actually expected to sell these works to debt collectors. Depending on to the satisfy, Hedges and also his gallery "maintained and made use of those funds for their own objectives as well as benefit.".
" Hedges Projects is distressed to learn about the legal action filed by Port Shainman Gallery," the picture said in a statement. "Hedges Projects and also Port Shainman Gallery possess had a productive business partnership due to the fact that 2018. It is actually unlucky that Port Shainman Picture made a decision to sue while the events reside in the midst of service arrangements. Our company definitely differ along with the insurance claim, and plan to assert counterclaims of our very own, if required.".
An agent for Jack Shainman Gallery declined to comment.