Richard Prince Disavows Portrait of Ivanka Trump -- Owned by Ivanka Trump

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Renowned appropriation artist Richard Prince has disavowed authorship of a portrait of Ivanka Trump that was featured in his series of works-based on Instagram images, "New Portraits," and is owned by Ms. Trump. Prince has reportedly refunded the USD $36,000 which Ms. Trump paid for the work in 2014 and "denounced" the work as "fake" on his Twitter account.

Prince further elaborated, "It’s a way of me saying to them I don’t want my work in your possession. I don’t want anything to do with your family."

In keeping with the phenomenon whereby any efforts to attack the Trumps seem to only end up benefiting them, the Times suggests that the monetary value of the work will likely increase -- the artist's disavowal notwithstanding.

The Times quotes art advisor and former Sotheby's executive Joshua Holdeman: “As far as the market is concerned, if an artist says a work isn’t by him, but it’s clear that he made it and presented it as his work, well it kind of is what it is. My intuition about this is that when history plays out, this will probably end up being a more culturally rich object than if this whole episode hasn’t happened.”