M. Knoedler & Co.

M. Knoedler & Co. was an art dealership in New York City founded in 1846. When it closed in 2011, amid lawsuits for fraud, it was one of the oldest commercial art galleries in the US, having been in operation for 165 years. History Knoedler dated its origin to 1846, when French dealers Goupil & Cie opened a branch in New York. Goupil & Cie was an extremely dynamic print-publishing house founded in Paris in 1827. Michel (later Michael) Knoedler (1823–1878), born in Kapf near Schwäbisch Gmünd in Baden-Württemberg, Germany, started to work for Goupil & Cie in Paris in 1844, and moved to New York in 1852 to take charge of the New York branch. He purchased the U.S. arm of the business in 1857, and was later joined by his sons Roland (1856–1932), Edmond and Charles, with Roland taking the lead after his father's death in 1878. With dealer Charles Carstairs, Knoedler opened branches in Paris (1895), Pittsburgh (1897), and London (1908), and, under Carstairs' influence developed a reputation as a leading dealer of Old Master paintings, with customers including collectors such as Collis P. Huntington, Cornelius Vanderbilt, Henry O. Havemeyer, William Rockefeller, Walter P. Chrysler Jr., John Jacob Astor, Andrew Mellon, J. P. Morgan, and Henry Clay Frick, and institutions such as the Metropolitan Museum of Art, the Louvre, and the Tate Gallery. Knoedler & Co. became part of an elite group of art dealerships, which dominated the market for British painting in America. Knoedler developed a fruitful relationship with London gallery Colnaghi, with Colnaghi finding suitable paintings in Europe for Knoedler to sell to wealthy collectors in the US. Knoedler and Colnaghi were involved in the secret sales by the Soviet government of works from the Russian Imperial collection in the Hermitage in the 1920s and 1930s, along with Matthiesen in Berlin. After Roland Knoedler retired in 1928, the management of the firm passed to his nephew Charles Henschel, with Carmen Mesmore, Charles Carstairs and his son Carroll Carstairs. Henschel died in 1956, and E. Coe Kerr and Roland Balay (Michael Knoedler's grandson) took over. The firm was sold to industrialist and collector Armand Hammer for $2.5 million in 1971. Five years later, the last member of the Knoedler family - Roland Balay - ceased his involvement in the management of the firm. It increasingly concentrated on contemporary art from the late 1970s.