Latest news with #TheNose
Straits Times
12-05-2025
- Business
- Straits Times
Billionaire art collectors fight over Giacometti sculpture The Nose
Chinese crypto entrepreneur Justin Sun and American entertainment executive David Geffen are each claiming to be the rightful owner of Alberto Giacometti's 'Le Nez' (The Nose, above). PHOTO: FONDATION ALBERTO ET ANNETTE GIACOMETTI, PARIS NEW YORK - Billionaire art collectors rarely air their deals or dirty laundry out in public. But a battle between a pair of boldfaced names over a Giacometti sculpture is now playing out in the open, shining a rare light on a global market featuring unlicensed agents, multimillion-dollar handshake deals and pervasive secrecy. Chinese crypto entrepreneur Justin Sun, 34, and American entertainment executive David Geffen, 82, are slinging written accusations at each other in federal court in New York, each claiming to be the rightful owner of Alberto Giacometti's 'Le Nez' (The Nose). Along a trail stretching from New York to Singapore to Paris and back to the United States, Mr Sun says there sculpture was secretly sold by a dishonest adviser and sued for its return from Mr Geffen, who recently struck back, accusing Mr Sun of devising an elaborate fraud because he regrets the sale. Adding to the tangle is an agent who might or might not be to blame, and might or might not be in a Chinese detention center. At a 2021 auction in New York, Mr Sun, who founded the crypto platform Tron in Singapore, paid US$78.4 million (S$101.7 million) for Le Nez, a mid-century work of bronze, steel and iron depicting a head, suspended in an open cage and boasting a very long nose. Mr Geffen, who is the founder of Geffen Records, in turn, bought the sculpture in 2024 while it was on loan to the Giacometti Institute in Paris. But in early 2025, Mr Sun sued, alleging that an adviser who sold it to Mr Geffen, for US$10.5 million and two unnamed paintings, had done so without his permission, forging documents and inventing a nonexistent Chinese lawyer to make the deal. The accused adviser was publicly connected with Mr Sun and his art purchases for years and spoke about advising him on his bid for the Giacometti and other pieces. In April, Mr Geffen sued Mr Sun, accusing him of concocting a 'sham' story about his adviser making an illegitimate sale. In reality, he charged, Mr Sun had 'seller's remorse' after trying to sell the paintings included in the deal, but finding they did not fetch offers as high as he had hoped. Mr Sun's lawyers fired the latest salvo on May 7, telling the court that Mr Geffen is 'completely misguided' and should actually be suing the adviser, who they say has been detained in China since February 'in connection with her confessed fraud and theft' – a claim that could not be independently verified. A lawyer for Mr Sun, Mr William Charron, said in an email that Mr Geffen's claims are 'desperate and bizarre' and that he is clinging to a 'fiction' that the adviser is not a thief. Whether there was really a theft is crucial, but will not necessarily decide the case, art lawyers say. If the adviser transferred the sculpture without authority, Mr Sun could be named the rightful owner. Or Mr Geffen could keep the sculpture if his reliance on her representations was reasonable. 'I've been in the art world for decades and I've seen so many shady deals. It's a business like nothing else,' said Mr Joshua Kaufman, an art lawyer in Washington, D.C. 'Either side's version could be true.' There are many facts in dispute and Mr Sun's case faces an 'uphill battle,' said Ms Jana Farmer, an art lawyer in New York. The claims and counterclaims fill hundreds of pages, and the gaps between the billionaires' accounts are vast. Mr Sun says his adviser was a freelancer perpetrating an 'elaborate ruse.' Mr Geffen contends that Mr Sun has been trying to delete text messages and evidence on the internet. Practically the only thing they appear to agree on is that the paintings traded in the 2024 deal are not to be publicly identified. The secrecy is most likely to avoid tainting the paintings' value with the fight over the sculpture, experts say. Mr Sun is no stranger to controversy, in the art world and beyond. He made waves in 2024 with his US$6.2 million purchase of a conceptual piece consisting of a banana taped to a wall, and prides himself on challenging traditional notions of value. In 2023, the Securities and Exchange Commission accused him and Tron of fraudulently inflating the price of their crypto tokens. Mr Sun drew criticism for spending US$75 million in late 2024 on crypto tokens linked to Mr Donald Trump in what was seen as an effort to influence the incoming president to abandon the case, which he denied. The case was stayed by a judge at the government's request in 2025. Mr Geffen is a major collector who began buying art before Mr Sun was born. The case against him by Mr Sun challenges Mr Geffen's ownership of Le Nez and his 'great standing' as a savvy collector, Ms Farmer said, 'and tries to put his reputation on the line.' She said she thinks the billionaire collectors will ultimately settle their unusually public dispute. If so, it could be only a brief glimpse into a mystery-shrouded business before the shades are drawn again. NYTIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Deccan Herald
10-05-2025
- Business
- Deccan Herald
Billionaires' battle over a sculpture exposes a mysterious art market
Chinese crypto entrepreneur Justin Sun and American entertainment executive David Geffen are slinging written accusations at each other in federal court in New York, each claiming to be the rightful owner of Alberto Giacometti's Le Nez ("The Nose").
Time of India
01-05-2025
- Entertainment
- Time of India
Steve Austin breaks silence on WrestleMania 41 ATV crash: 'I was embarrassed'
WrestleMania 41 delivered big moments, but one of the most unexpected scenes came not in the ring, but on the ramp - when WWE Hall of Famer 'Stone Cold' Steve Austin lost control of his ATV during his entrance. Tired of too many ads? go ad free now The moment quickly went viral as Austin, known for his iconic four-wheeler entrances, misjudged a turn and slammed into the barricade, accidentally knocking over a fan. The incident happened at Allegiant Stadium during Austin's second lap around the ring. While the WWE legend quickly checked on the fan and proceeded with his segment, backstage officials were visibly concerned. WWE President Nick Khan was seen approaching the fan to ensure everything was alright, as the moment had startled both the audience and company staff. Steve Austin opens up about the crash Now, Steve Austin himself has addressed the crash during an interview on The Ariel Helwani Show, shedding light on what went wrong during the high-profile segment. According to Austin, the issue wasn't due to reckless driving but rather an unfamiliar throttle system on the vehicle. Stone Cold Steve Austin, Rampage Jackson, Eddie Hall, Patrice Evra, On The Nose, More | 4/30/25 'Different throttle setup than what I'm used to,' Austin explained. 'Long story short, just a different throttle system. I'm pretty dang handy on a four-wheeler.' Despite his experience, the miscalculation led to a very public slip-up, something Austin admits left him embarrassed. 'You go out there on the biggest night in wrestling, and you end up like that… It's not the greatest day at the office,' he added. What stood out, however, was how Austin handled the aftermath. Following his in-ring promo, where he cheekily questioned the official attendance figure and raised his signature beer toast, Austin went back to personally check on the fan involved. Tired of too many ads? go ad free now No legal action has been reported, and it appears the matter was quietly resolved. Online, fans were quick to praise Austin not only for addressing the issue candidly but also for his sportsmanship. The incident, while unfortunate, didn't overshadow his enduring popularity or legacy. The ATV mishap aside, WrestleMania 41 marked another chapter in Austin's storied career. His previous match at WrestleMania 38 and the recent induction of his 1997 submission bout with Bret Hart into the WWE Hall of Fame's 'Immortal Moments' show that the Texas Rattlesnake still commands attention. Even when things don't go as planned, Steve Austin proves he's still one of the most respected figures in the business.
Yahoo
21-02-2025
- General
- Yahoo
A Colorado Snowboarder Has Died in an Avalanche
A backcountry snowboarder has died in an avalanche near Colorado's Ophir victim was a 41-year-old woman from Crested Butte. She was riding a line known as 'The Nose' on February 20, 2025 when she and her partner were caught in a slide, the Durango Herald reported. The avalanche occurred north of partner moved out of the way of the slide and avoided being buried. He began to try to remove the woman from the snow, and staff members from the Opus Hut soon joined in the effort. The San Juan County Sheriff's Office and Silverton medical rescue responded after 1 p.m., after the Opus Hut staff notified then of the avalanche. 'La Plata Search and Rescue, Silverton Avalanche School, CAIC, along with personnel and a helicopter from Silverton Mountain joined the rescue effort, but the backcountry rider did not survive,' the report from the Colorado Avalanche Information Center said. 'Our deepest condolences go out to the family, friends, and community of the people involved in this tragic accident. CAIC staff will visit the site on Friday. We'll update this report as more information becomes available and publish a final report in a week.'The victim has not been identified. There were 27 team members in total that responded.
Yahoo
05-02-2025
- Business
- Yahoo
David Geffen Sued for Purchasing Pricey Giacometti Sculpture That Was Allegedly Stolen
Film producer and record executive David Geffen is being sued by a Hong Kong-based entrepreneur and art collector over the alleged unauthorized sale of a famous sculpture worth millions. Through his legal counsel, Justin Sun, a cryptocurrency entrepreneur and founder of the TRON blockchain, filed a lawsuit against Geffen Tuesday in a New York district court. In the submitted court papers, which have been reviewed by TheWrap, Sun alleges that Geffen took part in a 2024 sale of the highly valuable Alberto Giacometti sculpture known as 'Le Nez' (or 'The Nose') without Sun's knowledge or consent. Sun purchased 'Le Nez' at a New York auction in November 2021 for $78,396,000. He blames his former advisor, Xiong Zihan Sydney, for orchestrating its alleged theft. In his lawsuit, Sun claims that Xiong 'stole' the sculpture by carrying herself as a representative for the APENFT Foundation Ltd., which Xiong 'falsely identified as the owner of 'Le Nez'' during the transaction with Geffen. 'APENFT has never held title to 'Le Nez,'' Sun's lawsuit argues. The lawsuit additionally claims that Xiong 'forged Plaintiff's signature to purported deal documents on behalf of APENFT, then arranged for the illicit transport of 'Le Nez' to New York' in January 2024. Geffen ultimately bought 'Le Nez' in exchange for 'two other artworks' purportedly worth a combined $55 million, plus an additional $10.5 million. Geffen, in other words, ended up paying around $65.5 million for the sculpture. Sun's lawyers claim that he did not realize 'Le Nez' had been sold to Geffen until months afterward, alleging that Xiong told Sun after she'd completed the sale that she'd been in touch with a collector who was willing to put down a refundable $10 million deposit while he considered purchasing the artwork. The court papers state that Xiong used the $10.5 million cash payment from Geffen to support this story and kept $500,000 of it herself. Sun's legal team also claims Xiong has 'confessed to the crime.' While Sun's lawsuit admits that he did express an interest in selling 'Le Nez' for 'a profit' in 2023, it notes that he 'never indicated any willingness to sell 'Le Nez' for less than what he paid and in any form other than an all-cash (or equivalent) purchase.' After learning of the theft, Sun purportedly reached out twice in December and January through his lawyers to Geffen explaining Xiong's alleged theft and demanding that 'Le Nez' be returned to him. Geffen's lawyers responded in January and 'refused' to meet Sun's demand. ''Le Nez' was stolen,' the court papers insist. 'Defendants either must restitute it or pay very substantial damages.' In a statement, Geffen's lawyer, Tibor L. Nagy, responded to the lawsuit by calling Sun's lawyers' claims 'bizarre and baseless' and suggesting that the entrepreneur is suffering from 'buyer's remorse.' 'Mr. Sun received two paintings and $10.5 million for the sculpture he sold. After trying and failing to sell the paintings, he now wants to retrade the deal,' Nagy asserted. The post David Geffen Sued for Purchasing Pricey Giacometti Sculpture That Was Allegedly Stolen appeared first on TheWrap.
