The document discusses the court's considerations and opinions on the valuation of artworks in an estate, including paintings by Dubuffet, Picasso, and Motherwell. The court evaluates the fair market value of these artworks based on expert opinions and market conditions during the economic downturn of 2008-2009. The court ultimately agrees with the estate's valuations for the Dubuffet and Motherwell paintings but sides with the IRS's expert on the Picasso painting's value, emphasizing the importance of actual sales prices.
documents/vol00010-efta01459199-pdf.pdf
{"key_people":["Dubuffet","Picasso","Motherwell"],"document_type":"legal","document_subtype":"court opinion","key_organizations":["IRS","Sotheby's","Christie's"],"reference_numbers":["DB-SDNY-0119486","SDNY_GM_00265670","EFTA01459199"]}