I'm Sorry I Tripped and Ripped Your $130 Million Picasso
Sometimes there's so much beauty in the world I feel like I can't take it.
-- "American Beauty" (1999)
You know, I sometimes feel the same way about legal blog watching. Sometimes there's so much crazy-stupid-funny news in the legal world, I feel like I can't take it. In a good way, though.
Take this weekend's story in The New York Times about the lady who lost her balance while attempting to walk in the Metropolitan Museum of Art. She tumbled into “The Actor,” a rare Rose Period Picasso, tearing the canvas about six inches along its lower right-hand corner.
Now what? The museum issued a statement that they think they can repair the painting in a way that is "unobtrusive” but others in the art world are not convinced. Appraiser Gerard van Weyenbergh told the New York Post that the damage will mean "a 50 percent loss of the value -- at least. When an artwork comes up in auction, that's the first thing people want to know -- were there any repaints or restorations."
The painting is was worth $130 million, so is this poor, clumsy woman now on the hook for $65 million in damages? That is not entirely clear, but at least some reports state that the "You Break It, You Bought It" rule will thankfully not be applied in this case.
Posted by Bruce Carton on January 27, 2010 at 01:45 PM | Permalink
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