The painter known as the “Art Bastard” hit the art establishment with a US$100 million proposed class action Tuesday, February 6, accusing The Met and four other New York City museums of conspiring to artificially raise prices for some galleries’ work and restricting access to the market, reported Bloomberg.
Robert Cenedella, known as the “Art Bastard” said private collectors, galleries and auction houses play a large role in determining which works end up in museum collections, creating a system that drives up prices for a small group of select artists while shutting out others who “do not carry the imprimatur or financial cache of the contemporary artists within the closed system.”
“The system today—put in place by galleries, auction houses, and art critiques—has nothing to do with talent, development of skill, or maturation of the art world,” said Cenedella, a teacher at the Art Students League of New York who is known for satirical works that have included a painting of Santa Claus on a crucifix.
Cenedella sued the Metropolitan Museum of Art, the Whitney Museum of American Art, the Museum of Modern Art, the Solomon R. Guggenheim Museum and the New Museum of Contemporary Art, calling the group a “corporate museum cartel” that manipulates the market for its own benefit.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Competition Watchdog to Investigate Carlsberg’s £3.3bn Takeover of Britvic
Sep 11, 2024 by
CPI
News Corp Faced Millions in Losses by Moving Away from Google Ads, Ex-Executive Testifies
Sep 10, 2024 by
CPI
EU Faces Critical Innovation Gap, Draghi Report Urges Antitrust Reforms
Sep 10, 2024 by
CPI
Womble Bond Dickinson and Lewis Roca to Merge, Forming 1,300-Lawyer Firm
Sep 10, 2024 by
CPI
Federal Judge Dismisses Antitrust Lawsuit Against Fidelity and Schwab
Sep 10, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI