February 25, 2011 09:02:29 GMT
A judge orders the art, which is displayed at the actor's museum, to be liquidated after the contract to have it displayed somewhere else failed to be fulfilled.
Kevin Costner faces losing a $4 million bronze sculpture which has been housed at his own museum, after its creator called for the actor to liquidate the model. The "Bodyguard" star commissioned the bison structure in the 1990s for a failed resort venture in South Dakota.
According to the contract, obtained by TMZ.com, Costner promised to split the profits with artist Peggy Detmers if the hotel wasn't built by 2010 or the statue wasn't "agreeably displayed elsewhere". But the hotel was not built by the scheduled date last year and Detmers alleges she never agreed to let Costner place the sculpture in his museum, where it is currently located.
The artist is now calling for a judge to order him to liquidate the statue, which was constructed over the course of seven years. Detmers was reportedly paid $310,000 for the project, while its current value is estimated at $4 million.