Courthouse News reports that Amy Koler and Stephen Meyer have sued the American Fine Art Editions gallery in Scottsdale, Ariz. over the sale of a Warhol that the couple says was merely meant to be displayed at the gallery.
The couple reportedly purchased the work from the gallery (described as a “Red Shoes” painting) in 2005 for $65,000, but moved to Florida in 2009 and, the complaint says, decided to keep the piece at the gallery. At some point recently, the piece was sold, something the couple only discovered on a trip back to Scottsdale.
The gallery has said they’ve offered to return $65,000 to the couple, but Koler and Meyer say the work is probably now worth much more. Might a fun little in-court exploration of quantified art value appreciation be in the offing? Because at that price it probably wouldn’t have appreciated much in value since 2009, would love to hear those arguments.