Dec. 24th, 2004

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Highly subtle, technical criteria establish value

"For the uninitiated, it's one of the most baffling public lawsuits in memory. Jane Corkin, the owner of a Toronto photography gallery, is being sued by someone to whom she sold a photograph at last year's Basel Miami Art Fair.

The purchaser, Andrew Klink of New York, says he paid US$275,000 for a photograph that's really only worth US$40,000 to US$60,000. He not only wants his money back; he wants almost a million dollars in compensation for costs and anguish related to his legal action.

The reason for the dispute? The photograph in question, Andre Kertesz' Nude Distortion #88, was not developed in Paris in 1933, but in New York City some three years later.

So what? )

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