The one third acquisition policy

March 15 2011

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A legal dispute between the contemporary art dealer Larry Gagosian and one of his clients has revealed a potentially novel approach to museum acquisitions. The collector Robert Wylde thought he was buying all of Mark Tansey's 1981 painitng The Innocent Eye Test in 2009, for $2.5m, only to find out later that the Met Museum in New York owns 1/3 of it. 

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