Allegations that a prominent Manhattan art dealer appraised a painting by Paul Gauguin at millions of dollars above its value without revealing that the dealer had an “ownership interest” in the piece have been dismissed.
Supreme Court Justice Emily Jane Goodman, in Mandarin Trading v. Wildenstein, 602648/06, said plaintiff Mandarin Trading, a company based in the Bahamas, failed to prove that Wildenstein & Co. and its president, Guy Wildenstein, “owed any fiduciary duty or relation of trust and confidence.” She also denied Mandarin’s request for rescission of the transaction and award of damages.
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