Aldi supermarket heirs win art damages case

The Albrecht family members produced certainly one of Germany's most effective discount supermarket chains having a keen eye for the proper cost. On Tuesday, that reputation for effective price manage helped the Aldi heirs win a €19.4m damages settlement against a German art consultant accused of defrauding the supermarket tycoon Berthold Albrecht more than the sale of paintings, sculptures and classic vehicles. Art consultant Helge Achenbach, 62, was accused by Mr Albrecht's heirs of adding hidden surcharges when he sold artworks and vintage vehicles towards the businessman, who died in 2012. Below his agreement with Mr Albrecht, Mr Achenbach was entitled to add a five per cent surcharge to purchases of paintings and sculptures, and three per cent on transactions involving classic vehicles. But he was accused within the court case of substantially inflating the costs; adding €6.8m towards the €24m purchases of 21 artworks and about €12.5m towards the €48m buy of 11 classic vehicles. The art sales integrated the Picasso painting "La Famille du Jardinier" and functions by the Pop Art artist Roy Lichtenstein and also the German Expressionist painter Ernst Ludwig Kirchner. The court was told that Mr Achenbach, who was not present to hear the outcome from the case, acquired a Gerhard Richter painting from a gallery for €3.7m and sold it to Mr Albrecht for €4.5m. A civil court in Düsseldorf dismissed the art consultant's explanation for the surcharges; that he had verbally agreed a "margin of discretion" more than the costs Mr Albrecht paid. Inside a written judgment, the court stated: "No 1 with an insight into commerce, and definitely not an entrepreneur just like the bequeather [Mr Albrecht], would have permitted such an opaque technique of pricing." The court noted that Mr Albrecht was cautious with cash. He had not wanted the sellers from the vehicles and artworks to understand his name, to be able to steer clear of driving up costs, and was consequently unlikely to provide the art consultant discretion more than the surcharges. The court also dismissed the art consultant's claim that he had operated a returns policy for the purchases, which was component of his defence for the surcharges. If there had been such a policy to provide the pieces back, Mr Albrecht would have informed his family members of it when his well being deteriorated, the court stated inside a written judgment. Mr Albrecht was the son of Theo Albrecht who, with each other with his brother Karl, produced certainly one of the world's most effective meals retailers by providing a restricted selection of goods at bargain costs. When he died, Berthold Albrecht was certainly one of the world's one hundred wealthiest individuals, based on Forbes. Mr Achenbach, a consultant primarily based in Düsseldorf who has advised businesses and private customers on art acquisitions for decades, was arrested final June and has been in custody because then. The civil case is operating in parallel with criminal proceedings against Mr Achenbach for fraud.

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