Alexander Stanowitsch made no secret of the fact he knew nothing about art. He liked “colours” and “abstracts”, but cars were more his thing. The 63-year-old, semi-retired property developer wised up to the world of the arts in the most unfortunate of ways and in questionable company. It cost him his pride and his savings.

Last week he took his grievances to the County Court of Victoria, claiming damages of $366,994, plus interest and costs, from a man he once considered a friend. That former friend, Toorak engineer Steven Drake, introduced Stanowitsch to a man whose name sends alarm bells ringing in the art world – Melbourne art dealer Peter Gant.