Many people come to this blog looking for information on Bayo Ogunsanya's case against Robert Langmuir over the Diane Arbus "Hubert's Freaks" photos. As you might remember, Ogunsanya sold the photos to Langmuir, and then claims he was hoodwinked, because Langmuir realized their true value but didn't clue him in. The photos, worth millions, were scheduled for sale at Philip's, but at the last minute, Brooklyn Federal Court blocked the auction.
In October, a motion to dismiss the case was denied. Whille most people who commented felt, basically, "Seller Beware"–that Ogunsanya had no case–the law appears to disagree. If Ogunsanya wins, will it change the way that dealers do business? Read this update from The Art Law Blog.
Kristi, thanks for keeping us up to speed on this.
Posted by: Tom Curran | Sunday, January 25, 2009 at 06:48 PM
It's not very complicated, and like most things there are two sides to this...
To all amateur dealers every where: Learn by studying...never assume your "Stuff" is "Junk."
Ask a lot of people for their opinions - questions like -
I am not wanting to sell these photos at this time, however I am interested in your opinion about the artist, and their values...
Or
It's crazy I know, I want to add these photos to my collection, do you have any idea who might have taken them?
Being able to add a name to anything - especially an art piece, or a collectible, can add an immense monetary value to the object...
Get the name, and until you do, hold onto the object...
It seems to me that Robert Langmuir, a book dealer, played his cards too shrewdly...and then he got bit in the a**...
An estate liquidator who I learned a great deal from when I first started in this business said - "Imagine reading about your actions in tomorrow’s newspaper." I bet Mr. Langmuir wishes his actions were not read about in the paper or his exploits revealed on this or any other blog.
It's likely that Mr. Langmuir first purchase, represented his taking a risk...I mean Diane Arbus's work is very distinctive, but he was probably uncertain if the photos he was purchasing, were truly by her.
By his second purchase, he knew exactly who shot the photos, that’s why he went back...cuz he knew...and that's what is likely to stain his reputation.
Have valuables? Seek out and find an advocate...pay them...the peace of mind will be worth it.
Martin Codina
Fine Estate Liquidation
Posted by: Fine Estate | Monday, January 26, 2009 at 04:16 PM
Thanks Martin, this is really informative and balanced.
Posted by: Kristi | Monday, January 26, 2009 at 06:00 PM