David Nahmad

from Wikipedia, the free encyclopedia

David Nahmad , also Davide Nahmad , (* 1947 in Beirut ) is a Lebanese - Monegasque art dealer , collector and speculator with Syrian roots and Italian citizenship. The multi-billionaire became wealthy with art, real estate and banking businesses. His family owns one of the most important private collections of classical modern and impressionist paintings, the size of which was estimated in 2007 at 4,500 to 5,000 works with a total value of 3 to 4 billion US dollars .

Life

origin

Nahmad is an oriental Jew, of Sephardic origin on his grandfather's side . His grandfather was a rabbi , his father a banker in Aleppo, Syria . His mother Mathilde came from the Safra banking family, which was also based in Aleppo at the time. Nahmad's family migrated to Beirut in 1945 and moved to Istanbul in 1952 . She then settled in Milan in the late 1960s . His parents had three sons (Albert, Joseph and Ezra) and four daughters (Denise, Jacqueline, Nadja and Evelyne). Nahmad's eldest brother Albert was killed in a plane crash in the 1950s and his oldest sister died in 2003.

The family business

Head of the family after the father's death became Nahmad's older brother Joseph ("Joe Farouk", 1932–2012), who had founded the family's art trade in Milan as early as 1957. Ezra and David Nahmad soon got into this business. In Rome they met Daniel-Henry Kahnweiler , with whom they befriended, whereupon he brought them into personal contact with Pablo Picasso . As a result, in the 1960s in Paris , the brothers acquired several hundred works by Picasso as well as works by Braque and Gris through Kahnweiler . They then sold many of the paintings acquired in France at a profit again in Italy, often to Hans Heinrich Thyssen-Bornemisza , with whom they also maintained good contacts.

In the 1970s, Joe Nahmad moved to Monaco . Ezra, eighteen months older, moved to London and David Nahmad to New York City , where, as in Italy before, they also traded on the stock exchange and in investments. At the beginning of the 1980s, the Nahmads concentrated their activities on the speculative art trade in Japan and ultimately profited enormously - first from the effects of the “ bubble economy ”, then from those of the following crash on the Tokyo stock exchange at the turn of the year 1989/90. In times of economic growth, they initially sold a large part of their collection on the local art market and then not only bought back paintings that had previously been auctioned at low prices, but also expanded their holdings considerably. Joe Nahmad died on November 23, 2012. After that, Nahmad and his older brother Ezra took over the business in Monaco and has been the patriarch of the family ever since . In the world of the art trade, he is known for his flair for quality and returns as well as for his willingness to make long-term investments.

Nahmad is resident in Monaco, Paris, and New York City, is married with three children. He is the cousin of billionaire Joseph Safra and his late brothers Edmond and Moise . Moise Safra's son Edmond is married to Nahmad's daughter Marielle.

Nahmad is a passionate backgammon player and regularly bets large sums of money on the game. In 1996 he won the title at the annual backgammon world championship tournament in his home in the Monte-Carlo district .

Joseph Nahmad (left) during a vernissage (2012)

The second generation

In the United States and Great Britain, David and Ezra Nahmad had each opened a gallery in the 1970s . While Ezra Nahmad's eldest son Haley is the second generation to run the Helly-Nahmad-Gallery in London, David Nahmad's son, who is named after his grandfather Hillel and who, like his cousin, is also called "Helly", runs the Helly-Nahmad-Gallery (formerly by 1974 to 2000 Davlyn Gallery ) in New York City. His younger brother Joseph curates the gallery project Nahmad Contemporary , which was launched in 2011 and moved into its own premises in New York's Madison Avenue in 2013 .

Unlike his cousin, who graduated from the Courtauld Institute of Art , Hillel Nahmad does not have a high school diploma. Like his brother, he is a passionate poker player and known for his lavish lifestyle - for example, he gradually acquired the entire 51st floor of Trump Tower for more than US $ 21 million . In April 2013, he was arrested on charges of money laundering , betting fraud and illegal gambling . The deeds he should jointly with the likes of Eastern European Betting - Mafia in the field of " Taiwan Tschik have committed -Trintscher gang". As a result, the confessed Helly Nahmad was fined $ 30,000 and sentenced to 366 days in prison in April 2014 as the head of an illegal gambling ring, whose clientele were mainly multimillionaires and billionaires. Raoul Dufy's painting “Carnival in Nice” and his illegally acquired profit of US $ 6,427,000 were also confiscated. He had to serve five months of the sentence before it was converted to house arrest in an open prison . In addition, after his release from prison he had to do 300 hours of community service and was required to undergo therapy for his gambling addiction.

Then David Nahmad, who had meanwhile managed the business of the New York gallery on behalf of his son , withdrew from the day-to-day business. After his younger brother, Helly Nahmad has since begun to expand the family's trade, which until then had concentrated almost exclusively on the tried and tested standard values of Impressionism and modern painting, to include the works of contemporary artists .

Base companies

The family maintains several shell companies in overseas , u. a. to anonymize parts of their business activities . In 1995, Joe Nahmad had the Panamanian “International Art Center” (IAC) founded through the Geneva office of the Mossfon law firm and through the intermediary of the Swiss bank UBS .

Amedeo Modigliani: L'Homme assis (appuyé sur une canne), (1918)

This same company bought a Modigliani painting at Christie's in 1996 , which had been offered there under false expertise . The painting with the title “Seated Man Leaning on a Stick”, created in 1918, originally belonged to Stettiner et Cie. , a Parisian antique shop owned by Jewish owners who had left it in Paris in 1939 while fleeing from the Nazis. They finally confiscated it and sold it in 1944. Since then it has been considered lost. The Nahmads family was suspected of owning the painting from an early age. Since she consistently denied this and the ownership structure of the IAC had been concealed by the issue of anonymizing bearer papers , its actual owner was not known for a long time. As a result, the painting was exhibited several times and finally put up for auction at Sotheby’s by the Helly-Nahmad-Gallery in New York in 2008 without a knockdown. Since it was described correctly in the auction catalog this time, it was identified. Since the fall of 2011, Oscar Stettiner's grandson has been taking legal action against the Nahmad family in the USA through a Canadian service provider specializing in the restitution of looted art . Since then, the picture has repeatedly hit the headlines as a possible case of Nazi looted art .

After the publication of the so-called Panama Papers in April 2016, it became apparent that David Nahmad has been the sole owner of the IAC since early 2014. It was then determined that the picture, along with several thousand other paintings by the Nahmads, was kept in a Geneva bonded warehouse , the Freeport Geneva , the majority of which belonged to the art fraudster Yves Bouvier . During the subsequent public prosecutor's search of the camp, the painting was finally confiscated.

Exhibitions

The Nahmads have been exhibiting at Art Basel since the early 1970s . In 2011 they showed a small part of their collection in groups of works by Monet , Matisse , Miró and Picasso as part of their own show at the Kunsthaus Zürich . A highlight of the exhibition was Picasso's portrait of a woman , valued at $ 14 million.

  • 2011/2012 The Nahmad Collection , Kunsthaus Zürich , curators: Christoph Becker, Helly Nahmad
Gangster of Love / Crushed - Jan Frank and John Chamberlain 2015 at Nahmad Contemporary

Since 2011, the Nahmad Contemporary series in New York has primarily exhibited contemporary artists.

Selection:

  • 2011 Roy Nachum : BLIND , Nahmad Contemporary, curator: Joseph Nahmad
  • 2012 Michael Sagato : Delirium Tremens , Nahmad Contemporary, curator: Joseph Nahmad
  • 2012 Roy Nachum: Open Your Eyes , Nahmad Contemporary, curator: Joseph Nahmad

literature

  • Christoph Becker, Robert Brown, Faith Chisholm, Lukas Gloor, William Paton: The Nahmad Collection. Exhibition catalog, DuMont, Cologne 2011, ISBN 978-3-8321-9407-9 (book trade edition).

Web links

Individual evidence

  1. ↑ The million dollar picture without an owner . On April 8, 2016 on tagesschau.de
  2. ↑ a b c d e f g Susan Adams: The Art of the Deal ( Memento of March 3, 2016 in the Internet Archive ). On December 7, 2007 on forbes.com
  3. ↑ a b c Peter Aspden: Art dealer who bought and sold with immaculate timing ( Memento from December 31, 2012 in the Internet Archive ). On December 21, 2012 on ft.com
  4. ^ Scan from Nahmad's Italian passport, issued January 16, 2008 . At panamapapers.sueddeutsche.de, accessed on March 24, 2016
  5. ↑ a b c d e Jackie Wullschlager : Lunch with the FT: Helly Nahmad . November 11, 2011 on ft.com
  6. ^ The World's Billionaires - David Nahmad . Listed entry on forbes.com, accessed April 14, 2016
  7. ^ A b Sarah Cascone: Mega-Collector and Dealer Giuseppe Nahmad Died in November . On December 18, 2012 on artinamericamagazine.com
  8. ^ A b Sarah Levin: Voice of Denise Amnon - Life from Aleppo to Chicago through Beirut . May 29, 2013 on jpost.com
  9. ↑ Hillel Nahmads family tree (I) . From farhi.org, accessed May 25, 2016
  10. ↑ Obituary . From rindskopfroth.com, accessed May 25, 2016
  11. ↑ Stefan Eiselin: A Playboy, a Gangster and a Swiss Account . On April 19, 2013 on handelszeitung.ch
  12. ^ A b Ariel J. Greenberg: Helly Nahmad, Heir of Controversial Art-Dealing Dynasty, Indicted in International Gambling and Money-Laundering Scheme . April 21, 2013 on itsartlaw.com
  13. ↑ a b James Glanz: Case Casts Harsh Light on Family Art Business . May 16, 2013 on nytimes.com
  14. ↑ Walter Robinson: SOTHEBY'S SWEET SPOTS . August 22, 2011 on artnet.com
  15. ↑ a b c Alexandre Haederli, Jake Bernstein: Un Modigliani "spolié" caché à Genève . On April 7, 2016 on enquete.lematindimanche.ch (equivalent of the article in German: The masterpiece in the Geneva bonded warehouse . On April 7, 2016 on tagesanzeiger.ch)
  16. ↑ David Nahmads family tree . From farhi.org, accessed May 25, 2016
  17. ^ Catherine Cochard: Helly Nahmad, les dessous glauques du commerce de l'art . On December 10, 2014 on letemps.ch
  18. ^ Edmond Safras family tree (II) . From farhi.org, accessed May 25, 2016
  19. ↑ a b Alexandra Peers: Lost in Translation . From theaesthete.com. Retrieved April 14, 2016
  20. ↑ Michael Kaplan: Rolling the Dice in Paradise . In: Cigar Aficionado , No. 6/2007. ( Online , accessed April 14, 2016 at cigaraficionado.com)
  21. ↑ Who Are the Best Players in the World? - Monte Carlo World Champions . From bkgm.com, accessed April 14, 2016
  22. ↑ Ezra Nahmad's family tree . From farhi.org, accessed May 25, 2016
  23. ↑ James Glanz, Randy Kennedy, William K. Rashbaum: Case Casts Harsh Light on Family Art Business . May 16, 2013 on nytimes.com
  24. ↑ Rachel Corbett: NAHMAD EMPIRE EXPANDS INTO CONTEMPORARY ART . Retrieved May 23, 2016 from artnet.com
  25. ^ Judd Tully: 'It Takes Time to Prove Yourself': Joseph Nahmad on His New York Gallery's Fifth Anniversary . On June 12, 2018 from artnews.com, accessed June 22, 2018
  26. ^ Dan Duray: Mighty Young Joe: Joe Nahmad, Newbie Gallerist and Scion to a Fortune in Impressionist Paintings, Has Arrived on the LES . November 21, 2011 on observer.com
  27. ↑ Isabel Vincent: How scion's wager went 'bust' . April 21, 2013 on nypost.com
  28. ↑ Kim Velsey: Art Dealer Hillel Nahmad Completes His Trump Tower Collection, Buys Out Entire 51st Floor . January 23, 2013 on observer.com
  29. ↑ Ian Brodie: Nahmad family engulfed in 'mob' scandal . On April 24, 2013 on monacolife.net
  30. ↑ 13 Crim 268 , District Court Indictment. On justice.gov, accessed on May 23, 2016 ( PDF ; approx. 2 MB)
  31. ↑ Alec Luhn: International Russian Organized Crime Ring Does Old-School Gambling in a New Way . May 13, 2013 on occrp.org
  32. ^ US Attorney's Office Southern District of New York: Defendant Sentenced in Manhattan Federal Court to Six Months in Prison and Six Month's Home Confinement for Being a Leader of an International Multi-Million-Dollar Illegal Sports Gambling Business . On fbi.gov on May 8, 2014
  33. ^ Catherine Cochard: Helly Nahmad, les dessous glauques du commerce de l'art . On December 10, 2014 on letemps.ch
  34. ↑ Sean Gardiner: Gambling-Ring Operator Sentenced to Six Months . On May 8, 2014 on wsj.com
  35. ↑ US Attorney's Office Southern District of New York: Art Gallery Owner Helly Nahmad Sentenced to One Year and One Day for Being a Leader of an International, Multi-Million-Dollar Illegal Sports Gambling Business . On fbi.gov on April 30, 2014
  36. ↑ Rachel Corbett: Breaking (Out): Art Dealer Helly Nahmad Released Early From Prison . On December 8, 2014 on observer.com
  37. ↑ Brian Boucher: Helly Nahmad Sentenced to One Year in Prison, $ 30,000 Fine, Must Forfeit $ 6.4 million . On April 30, 2014 on artinamericamagazine.com
  38. ^ Nate Freeman: Helly Nahmad, Fresh Out of House Arrest, Is Selling a $ 50 M. Rothko at Basel . On June 16, 2015 on artnews.com
  39. ^ Anthony Haden-Guest: The Art World's New Gang War . May 1, 2014 on thedailybeast.com
  40. ↑ a b Jake Bernstein: The Art of Secrecy . On April 7, 2016 on panamapapers.icij.org
  41. ↑ a b Scan of a control document about the establishment of the IAC . At panamapapers.sueddeutsche.de, accessed on March 24, 2016
  42. ↑ Holly Watt, David Pegg, Juliette Garside: Mossack Fonseca's role in fight over painting stolen by Nazis . April 7, 2016 on theguardian.com
  43. ^ Nathaniel Herzberg: "Panama papers": les documents révèlent le véritable propriétaire d'un Modigliani disparu . On April 8, 2016 on lemonde.fr
  44. ↑ Recommendation regarding Stettiner - Recommendation number: RC 1.139 . On February 2, 2015 on restitutiecommissie.nl
  45. ↑ Kia Vahland , Frederik Obermaier : Hiding places for Nazi looted art - what the Modigliani case means for the art world . On April 12, 2016 on sueddeutsche.de
  46. ^ Umberto Bacchi: Panama Papers reveal ownership of contested £ 17m Modigliani looted by Nazis . On April 8, 2016 on ibtimes.co
  47. ↑ a b Katrin Langhans, Frederik Obermaier, Bastian Obermayer , Kia Vahland: Panama Painting . From panamapapers.sueddeutsche.de, accessed on May 24, 2016
  48. ↑ Bill Hoffmann: Billionaire refuses to return $ 25m Modigliani masterpiece stolen by Nazis from Jewish art dealer . On November 2, 2011 on dailymail.co.uk
  49. ↑ Jennifer Maloney: After Finding Lost Painting, a Roadblock . On October 27, 2014 on wsj.com
  50. ↑ Stefan Koldehoff : A man with a hat - and his secret . On November 8, 2011 on welt.de
  51. ↑ Scan of the transfer of all IAC company shares in favor of David Nahmad in January 2014 . On documentcloud.org ( document as PDF; approx. 169 kB), accessed on March 24, 2016
  52. ↑ Scan of David Nahmad's order to delete the respective power of attorney of his brother and his son with regard to the IAC in December 2014 . At panamapapers.sueddeutsche.de, accessed on March 24, 2016
  53. ↑ Simon Bradley: The discreet bunkers of the super-rich . On July 9, 2014 on swissinfo.ch
  54. ↑ Sam Knight: The Bouvier Affair . On 8./15. February 2016 on newyorker.com
  55. ↑ Stefan Koldehoff in an interview with Dina Netz: "Many pictures are traded through letterbox companies" . On April 6, 2016 on deutschlandfunk.de
  56. ↑ Alexis Favre: Perquisition aux Ports francs genevois . On April 8, 2016 on letemps.ch
  57. ↑ Alexis Favre: Un Modigliani séquestré aux Ports francs . On April 11, 2016 on letemps.ch
  58. ^ Annette Hoffmann: The proximity of art and money . On November 30, 2011 from magazin.artline.org, accessed on June 22, 2018
  59. ^ Paulina Szczesniak: The championship celebration . On October 21, 2011 on tagesanzeiger.ch, accessed on June 22, 2018
  60. ↑ Miró, Monet, Matisse - The Nahmad Collection ( Memento from January 21, 2012 in the Internet Archive ). At kunsthaus.ch, accessed on April 14, 2016
    Image gallery: “The Nahmad Collection” . On October 20, 2012 on tagesanzeiger.ch, accessed on June 22, 2018
  61. ↑ Exhibitions - Past . Retrieved May 26, 2016 fromoneyadcontemporary.com
  62. ↑ BLIND: Art For The Visually Impaired By Artist Roy Nachum . March 21, 2012 from dzinetrip.com, accessed June 22, 2018
  63. ↑ NAKED WOMEN + PINK ELEPHANTS: MICHAEL SAGATO'S DELIRIUM TREMENS ( Memento from December 11, 2012 in the Internet Archive ). April 16, 2012 on openhouse.me
  64. ^ Joseph Nahmad Contemporary Presents 'Open Your Eyes' by Roy Nachum ( memento of October 23, 2012 in the Internet Archive ). May 10, 2012 on interviewmagazine.com
    Scott Lipps: Lipps Service: Chow Down . May 11, 2012 from interviewmagazine.com, accessed June 22, 2018
personal data
SURNAME Nahmad, David
BRIEF DESCRIPTION Lebanese-Monegasque art dealer
DATE OF BIRTH 1947
PLACE OF BIRTH Beirut , Lebanon