When bad dealers bite

Yet another lawsuit, this one filed in New York State Supreme Court in 2008 by the Daughters of Mary Mother of Our Savior, an order of nuns in Round Top, N.Y., alleges collusion between a local art appraiser and a Santa Fe, N.M., dealer in the sale of an 1889 painting by William Adolphe Bouguereau titled "Notre Dame D'Anges" for $450,000.

The painting, a gift from a parishioner, had hung in a chapel, and the buyer promptly resold it to another dealer for $2 million, splitting the profit with the appraiser, the suit alleges.

Read the WSJ piece (for some lamentable horror stories of the art world) here.