{"id":362,"date":"2021-03-12T08:10:21","date_gmt":"2021-03-12T00:10:21","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=362"},"modified":"2021-03-11T23:19:59","modified_gmt":"2021-03-11T15:19:59","slug":"spanish-supreme-court-confirms-picasso-portrait-at-center-of-botin-case-cannot-be-exported","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/auction\/spanish-supreme-court-confirms-picasso-portrait-at-center-of-botin-case-cannot-be-exported\/","title":{"rendered":"Spanish Supreme Court Confirms Picasso Portrait at Center of Bot\u00edn Case Cannot be Exported"},"content":{"rendered":"<p>Last year, billionaire banker and collector Jaime Bot\u00edn, whose family appears on the\u00a0<em>ARTnews<\/em>\u00a0Top 200 Collectors list, was sentenced to 18 months in jail and fined $58.3 million after attempting to smuggle a treasured\u00a0<a id=\"auto-tag_pablo-picasso\" href=\"https:\/\/www.atelierauction.com\/globalupdates\" data-tag=\"pablo-picasso\">Pablo Picasso<\/a>\u00a0portrait out of Spain. After Bot\u00edn\u2019s attorneys tried to appeal, arguing that painting is Bot\u00edn\u2019s private property and holds no national significance, Bot\u00edn\u2019s\u00a0<a href=\"https:\/\/www.atelierauction.com\/globalupdates\" target=\"_blank\" rel=\"noopener\">sentence was amended<\/a>\u00a0to three years in jail and his fine rose to $101.2 million. Now, the country\u2019s supreme court has ruled that the Picasso painting that spurred the criminal investigation must indeed remain in Spain.<\/p>\n<p><span class=\"\">Spain\u2019s Supreme Court, Chamber III, has dismissed the appeal by Bot\u00edn and his Euroshipping Charter Company Ltd. that sought to overturn the original ruling that denied exporting Picasso\u2019s\u00a0<i>Head of a Young Woman\u00a0<\/i>(1906), valued at $27.4 million, according to<\/span>\u00a0a report by Spanish newspaper\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\/\" target=\"_blank\" rel=\"noopener nofollow\"><em>El Pa\u00eds<\/em><\/a>.\u00a0<span class=\"\">Spain\u2019s National Court had previously confirmed the resolutions of the Ministry of Culture stating that the work must not be taken outside the country \u201cgiven its obvious historical and artistic value and that it is older than 100 years.\u201d<\/span><\/p>\n<p>Questions regarding Bot\u00edn\u2019s Picasso first arose in 2012 when he discussed selling the portrait at Christie\u2019s; the auction house\u00a0<span class=\"\">advised him that to export the painting he had to first obtain the approval of the Ministry of Culture, which ultimately ruled against exporting the work. In 2015, authorities found the Picasso painting abroad Bot\u00edn\u2019s yacht,\u00a0<em>Adix<\/em>, in the harbor of Corsica, France, which Bot\u00edn reportedly planned to send to a storage center in Geneva. French customs agents seized the artwork, and it has since been returned to the Spanish government.\u00a0<\/span><\/p>\n<p>In ordering that Bot\u00edn\u2019s jail time and fine be upped, after his lawyers attempted to appeal, the judge wrote\u00a0in the decision that \u201cdespite being fully aware of the administrative ban, the defendant transferred the painting to the schooner\u00a0<em>Adix<\/em>\u00a0in order to get him out of Spain.\u201d The embattled banker\u2019s lawyers told\u00a0<em>El Pa\u00eds\u00a0<\/em>at the time that they\u2019ve \u201cnever seen anything like\u201d the extended ruling.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last year, billionaire banker and collector Jaime Bot\u00edn, whose family appears on the\u00a0ARTnews\u00a0Top 200 Collectors list, was sentenced to 18 months in jail and fined $58.3 million after attempting to smuggle a treasured\u00a0Pablo Picasso\u00a0portrait out of Spain. After Bot\u00edn\u2019s attorneys tried to appeal, arguing that painting is Bot\u00edn\u2019s private property and holds no national significance, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[13,7,4,3],"tags":[100],"class_list":{"0":"post-362","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-auction","8":"category-events","9":"category-gallery","10":"category-latest-news","11":"tag-picasso-portrait"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spanish Supreme Court Confirms Picasso Portrait at Center of Bot\u00edn Case Cannot be Exported - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"Last year, billionaire banker and collector Jaime Bot\u00edn, whose family appears on the ARTnews Top 200 Collectors list, was sentenced to 18 months in jail and fined $58.3 million after attempting to smuggle a treasured Pablo Picasso portrait out of Spain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/auction\/spanish-supreme-court-confirms-picasso-portrait-at-center-of-botin-case-cannot-be-exported\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spanish Supreme Court Confirms Picasso Portrait at Center of Bot\u00edn Case Cannot be Exported - 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