Saturday, March 12, 2011

Agency revisited

 LONDON. Relationships between art market participants can be complex and in some cases, governed by principles of agency. [Refresher: an agent is a fiduciary of his principal owing him the highest standards at law, including the duties of utmost good faith, candor and loyalty.]

Leonardo's "Madonna and Child with St Anne and a Lamb"
 Agency will be at the core of the impending litigation between two of London's "most powerful dealers" when Simon C. Dickinson Ltd. seeks an indemnity from Luxembourg Art Ltd. for losses suffered as a result of the judgment awarded to Accidia (the original owner of the drawing attributed to da Vinci) in the suit instituted against him in 2010 for commissions relating to the failed sale of such artwork. Luxembourg Art Ltd. was Accidia's agent and as such, should have disclosed to its principal the fact that Dickinson stood to earn a commission and the amount of the commission. In the judgment Judge Vos stated that he was "sure" Ms. Luxembourg did not disclose these matters to Accidia, which is the claim Dickinson will now mount to get an indemnity.

On the question of the attribution of the drawing to Leonardo da Vinci, see here


  1. Awesome post, thanks a lot for sharing this with us!

  2. It's an interesting subject, personally I feel that it is a very clever forgery. It seems to lack the mastery that da Vinci's art on canvas displays.

  3. Very interesting, it's just going to get scrappy but it's a great picture!

  4. Fascinating piece, you can almost feel the art on canvas at work here.

  5. I admired the way you sketch your piece. good work!