.New york city’s Port Shainman Picture has taken legal action against collector James R. Hedges IV, declaring that he is obligated to repay nearly $300,000 for the purchases of 19 arts pieces that the picture had actually consigned to him. The lawsuit, which was actually filed in the Supreme Court of the State of Nyc on Friday, declares that Hedges and his picture, the Santa Monica– located Hedges Projects, were actually committed these jobs through statements courted in between June 2022 and May 2024.
Hedges and also his gallery are actually indicted of being obligated to repay $298,772.72. Hedges has actually called himself “the go-to man for Warhol photography,” claiming in his profile that he owns the greatest personal selection of photos by the Stand out musician. He has curated shows of Warhol’s pictures, including one in 2020 at Jack Shainman Gallery held prior to the beginning of the pandemic in New York.
He likewise organized a selling show of Warhol’s art along with Gagosian picture in 2022. Related Articles. The kid of a collector of self-taught performers, Hedges concentrated full-time on craft beginning in 2013, the year that he departed the planet of investment banking, according to the Art Newspaper.
Along with gathering craft, he has functioned as a trustee to the Dia Art Foundation as well as has been actually a patron of the Museum of Modern Craft in Nyc, the Aspen Art Gallery in Colorado, and the Tate museum system in the UK. He is actually currently manager for the arts at the the Lodging Bel-Air and the Beverly Hills Lodging and also Bungalows in Los Angeles. Port Shainman Gallery was actually founded in 1984 and presently exemplifies artists such as Lynette Yiadom-Boakye, Kerry James Marshall, Nina Chanel Abney, and also Flower B.
Simpson. In January, the picture opened a new 20,000-square-foot space in Tribeca. Friday’s claim performed not information the art work Port Shainman Gallery had actually committed to Hedges and his picture, noting simply that the two were meant to market these works to debt collectors.
Depending on to the satisfy, Hedges and also his picture “maintained and also made use of those funds for their very own purposes and also benefit.”. ” Hedges Projects is actually grieved to discover the case filed through Port Shainman Picture,” the picture said in a statement. “Hedges Projects and Port Shainman Picture have possessed a prosperous service connection due to the fact that 2018.
It is unfortunate that Port Shainman Gallery decided to sue while the celebrations remain in the midst of service discussions. Our company firmly disagree with the claim, and strategy to declare counterclaims of our very own, if essential.”. A rep for Port Shainman Picture declined to comment.