""Odita claimed that he was living beyond his means.""
""The market supported the increases in monthly payments. We really try to be supportive as possible of our artists.""
""unsustainable level in light of what had become sluggish sales of Odita's artworks.""
Odili Donald Odita sued Jack Shainman Gallery after alleging the gallery refused to return artworks he valued at $1.12 million. Jack Shainman Gallery responded that the artworks were worth $650,000 and alleged Odita owed $586,000 in loans and production costs. The gallery said it paid Odita a monthly stipend starting in 2016, initially $14,000, and stopped payments in 2024. The gallery stated it provided the stipend because Odita "claimed that he was living beyond his means" and that it increased payments as the market supported them. The gallery says Odita sought a 160% price increase despite a recommended 20% cap.
Read at ARTnews.com
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