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Frozen gold delays artwork

March 05, 2009|Mike Boehm

Gagosian Gallery in Beverly Hills said that Saturday's opening of a new work by Chris Burden, "One Ton, One Kilo," has been postponed indefinitely while the search continues for 220 pounds -- or about $3.3 million worth -- of gold bars needed to assemble the piece.

The stash that Gagosian and Burden had secured for the exhibition got caught up in a civil action that federal authorities have brought against R. Allen Stanford, accused of running a Ponzi scheme. His assets, including Stanford Coins and Bullion, the company that sold Gagosian the required gold, have been frozen by court order.

"We're working on securing the gold we need for the exhibition," Michelle Pobar, a Gagosian spokeswoman, said Wednesday. "We are hopeful to open within a week or two, so please stay tuned."

-- Mike Boehm

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