Gagosian Gallery in Beverly Hills announced today 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.
As we reported Monday, the stash Gagosian and Burden had secured for the exhibition got caught up in a civil action that federal authorities have brought against alleged Ponzi schemer R. Allen Stanford. 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, told Culture Monster today. "We are hopeful to open within a week or two, so please stay tuned."
Read the official notice of the opening's cancellation here.
Photo: Kim Jae-Hwan / AFP/Getty Images
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