Ruling gives warning to dealers not briefing clients on commissions
THE danger of taking commission on deals without the express knowledge of the vendor has been underlined by a High Court ruling. In it, a London dealer has been told that he was not entitled to keep a $1m commission he retained following the sale of a Leonardo da Vinci drawing in August 2007.
A complex situation arose when the owners of The Madonna and Child with St Anne and a Lamb, the Liec…