Epstein Secrets

ete de Femme (Jacqueline) by Pablo Picasso (the Picasso), Untitled by Robert Motherwell (the Motherwell), and Element Bleu XV by Jean Dubuffet (the Dubuffet)." One of the paintings was sold after the date of death for an amount considerably in excess of the 706 filing amount. This case addresses two fun

e Motherwell painting, a 66- by 50-inch oil on canvas work created in 1966, was acquired by Ms. Newberger in 1969 for $8,000. Using the 2010 sale of Motherwell's In Black and White No. S (a work similar in size, composition, and date of creation) for $1,426,500 as a comparable, the Estate's valuation expert

ete de Femme (Jacqueline) by Pablo Picasso (the Picasso), Untitled by Robert Motherwell (the Motherwell), and Element Bleu XV by Jean Dubuffet (the Dubuffet)." One of the paintings was sold after the date of death for an amount considerably in excess of the 706 filing amount. This case addresses two fund

e Motherwell painting, a 66- by 50-inch oil on canvas work created in 1966, was acquired by Ms. Newberger in 1969 for $8,000. Using the 2010 sale of Motherwell's In Black and White No. 5 (a work similar in size, composition, and date of creation) for $1,426,500 as a comparable, the Estate's valuation expert

a "similar sized work from the same series," sold for $825,000. The Estate's expert determined the fair market value of the Dubuffet to be $500,000. For purposes of the notice of deficiency, the IRS valued the Dubuffet at $750,000, as of the date of death. At trial, the IRS's expe

sale of the Picasso renders their valuation wholly unreliable. ... We agree with [the IRS's] expert." Motherwell Painting In examining the sale of Motherwell's In Black and White No.5 painting some 16 months after the date of death, the Court noted that, at the date of sale, "the artwork market had largely