The gallery was shocked when Asher Edelman and 12 US Marshals just “appeared” at Art Basel Miami, the year’s most important modern art show, and confiscated 4 paintings on Tuesday.
Edelman’s art gallery reportedly claimed the paintings because Art Basel refused to pay on a lawsuit Edelman had filed against them – Edelman had consigned a painting to Art Basel and it was returned with a deep “gouge.”
“They essentially broke the work and then conspired to deny it,” Edelman said in an interview with the business magazine PODER.
So he bust in with twelve US Marshals and took damages – 4 paintings worth a total of $6 million.
Edelman made a name for himself on Wall Street raiding corporations and then quit and opened an art gallery.
He once threw Oliver Stone out of his Wall Street office, he told PODER, and Michael Douglas is a good friend. Together, Edelman and Carl Icahn reportedly form the inspiration for the notorious character Gordon Gecko.
The dispute has now been resolved and the paintings are set to be returned to Art Basel today.
Business Insider Emails & Alerts
Site highlights each day to your inbox.