Sotheby’s Modigliani dispute ends quietly without court ruling

A lawsuit accusing Sotheby’s of failing to honor a resale agreement for a disputed Amedeo Modigliani painting has been permanently ended without a ruling or public explanation, according to a newly filed court document.

The stipulation filed April 2 states that the lawsuit brought by collector Charles C. Cahn Jr. against the auction house is discontinued “with prejudice, and without costs or attorneys’ fees to any party.” It does not indicate the reason for the discontinuance, and such agreements often follow private settlements.

Cahn had sued Sotheby’s in 2025 over its handling of Portrait de Leopold Zborowski, a 1917 painting by Modigliani that the collector purchased from the auction house in 2003 for nearly $1.6 million, including fees and taxes, according to the complaint.

The dispute centered on a 2016 appraisal in which Sotheby’s allegedly raised concerns about the work’s authenticity, telling Cahn the painting would have no resale value in the international market.

Collector sues Sotheby’s over Modigliani painting

The auction house allegedly said the painting, which it had sold to him in 2003, failed to meet certain criteria during a 2016 appraisal.

Urgent MatterAdam Schrader

Despite those concerns, Cahn alleged that Sotheby’s entered into an agreement that same year, committing to offer the painting at auction if he chose to sell it within 15 years.

Under the terms described in the complaint, the auction house would pay him either the original purchase price plus a 2.5% compound annual return or the eventual sale price, whichever was greater, while waiving vendor fees.

Cahn claimed that when he sought to trigger that agreement last year, Sotheby’s failed to respond to his request and subsequent follow-up correspondence from his attorney. He had sought damages of more than $2.6 million, to be determined at trial.

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