Well-known art dealer John Pilcher, 67, pleaded guilty to one count of theft by receiving stolen property on Monday as part of a plea bargain.
The charge was amended from a second-degree felony to a class A misdemeanor as part of the deal.
Pilcher is scheduled to be sentenced Nov. 3 before 3rd District Judge Robin Reese.
Prosecutors contend that Pilcher sold a stolen painting to antique dealer Anthony B. Christensen this year. Christensen had also been charged with theft by receiving stolen property, but the charge against him was dismissed.