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Monday, March 7, 2011

OK. So not everything you get in a free country is THAT great.

SANTA FE, N.M. (AP) - A hearing is set for Wednesday in a lawsuit filed by the co-founder of Gateway computer company against a Santa Fe art dealer.

Billionaire Norman Waitt charged in a lawsuit filed last July that a painting he bought from art dealer Gerald Peters is worth only a sixth of what he paid, and that Peters won't take it back.

The complaint accuses Peters of reneging on an unwritten agreement through which Waitt would take paintings home and after "living with" them, exchange them if he wished for another work of equivalent value.

Peters said the facts will demonstrate the gallery acted properly. His attorneys have proposed that State District Judge Raymond Ortiz dismiss the case.

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