Art Dealers File Suit Over Missing Degas
- June 19, 2014 22:35
Two Manhattan art dealers have filed a suit against another dealer whose fraudster client allegedly made their $3 million Degas disappear.
The Degas was to be sent to Long's client in San Francsico and the dealers also included paintings by Willem de Kooning and etchings by Picasso, for a total of $11 million.
When Long arrived at her client's home, it was empty, and he asked her to place the crates in his garage. He avoided payment queries and said the works would be going to a museum.
Long's client, Luke Brugnara, was arrested in May. He was a convicted felon, and although Long had done business with him a decade ago, since then he has served time for trout poaching and tax evasion. He had no tangible assets.
The dealers are suing Long for her lack of "due diligence" on Brugnara's financial circumstances. The Degas crate is still unaccounted for, but the four other crates have been recovered.
