Tribal Art to Stay Put at De Young
Published: July 24, 2009
In a series of deals taking place between 2003 and 2007, Friede had promised the museum his mother’s 4,000-piece collection, which includes works by Picasso and Gauguin, and most of which is still housed in Friede's home in Rye, N.Y. Unfortunately, he also promised his brothers the artwork as collateral in the settlement of their mother’s estate. In September, a Florida court ruled that Friede should hand the artwork over to his brothers, Robert Friede and Thomas Jaffe, who could then sell up to $20 million worth of it to pay off his debt of $30 million. But this week a California judge overturned the ruling. "What this means is the art remains safe for public access," San Francisco Deputy City Attorney Don Margolis explained. |
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