One of the world's largest auction house Sotheby's sued the Health Maynora (Halsey Minor), founder of Cnet Networks Inc., pay 16.8 million dollars for the purchase of three paintings that he bought for auction in May this year.

In a court summons, which was submitted to the Federal Court of Manhattan, said that Maynor has bought three pieces: «The Kingdom of Peace» Edward Hicks (Edward Hicks), «Shoes with diamond crumbs» Andy Warhol (Andy Warhol) and «Paris, Winter Days» Hassama Frederick Childe (Frederick Childe Hassam). Their total value exceeds 13 million dollars, but the representatives of Sotheby's claim that he also had failed to pay the additional costs and interest. And this despite the fact that Sotheby's gave Maynoru the most favorable conditions to enable it to pay back in August.

As reported in the Sotheby's record for the second quarter of this year, namely the «buy» Hicks painting for 9.6 million dollars has caused the high results of spring auctions in New York. Besides, this is the first piece of American folk art and the first canvas by Edward Hicks, who went under the hammer in such a large sum.

As stated in an interview with Health Maynor, he refused to pay the necessary amount of «the kingdom of the world», once learned that the representatives of Sotheby's utaili that have their own interest in this work. He argues that the disclosure of this information would affect the value of the work, not on the big side.

previous owner of the canvas Hicks was jeweler Ralph Esmeryan (Ralph Esmerian). He purchased in 1976. In 2000, he promised to pass it as a gift to the American Museum of Folk Art, but about three years ago handed a canvas auction house Sotheby's as collateral for a loan. Esmeryanu need the money, because it was necessary to settle with the bank Merrill Lynch a question about the payment of previous loan. According to the bank, the arrears Esmeryana the financial institution was 178 million dollars and the debt was considered almost hopeless.

Maynor suggests that house Sotheby's hid his interest in the canvas to «draw» from Esmeryana more kindness in providing the loan. He also added that plans to sue a counterclaim.

However, the auction house said that the information that the picture Hicks is an additional security for a loan, never withheld. For this reason, they believe the charges Maynora unlikely. They also reported that the recent very Maynor said that can not pay only because he also owed money.

Edward Hicks (1780 - 1849) - the representative of American folk art, reflecting in his works Quaker beliefs. In 1816, he began work on a series of paintings devoted to the Old Testament kingdoms of the world, which showed all the earthly creatures who live in harmony. At this time, found 62 variants «kingdoms of the world». The one who was «sold» to Sotheby's, written by the artist already at the very end of life.

Source: bloomberg.com