Collector sued the Christie's
Founder of a California company CNET, and a collector of works of art Health Maynor (Halsey Minor) known that loves sue auction houses. In September, it filed with the court Sotheby's - Maynor is not paid within three working who bought at the spring auction. a month later filed a countersuit collector . The point is that the painting, which has not paid Maynor, were handed over to the auction house as collateral for a loan, because their previous owner mired in debt. Collector accused Sotheby's that the auction house had concealed from him the information.
Now Health Maynor has decided to sue another, and at Christie's. He said that the auction house did not return him to seven works by Richard Prince (Richard Prince), who gave it to him for sale. According to the agreement Maynora and Christie's, the auction house had sold the painting, which the collector assessed the value of 25 million dollars in the period from May to November 2008. When this period came to an end, the work has not yet been sold, but return them Maynoru Christie's refused.
In his lawsuit accusing the collector auction house in violation of the terms of the agreement, failure to comply with fiduciary duty and fraud. Christie's did recently returned to his work, but Maynor is still unhappy: he said, if the paintings were put up for sale earlier, they would have been much more than now - in recent times the value of works of Prince fell. Consequently, because of the inaction collector the auction house has lost a considerable amount of money.
Representatives of the auction house said that they would file a countersuit. After all, in order to get back the picture Prins, Maynor had to fulfill several conditions, which he refused to comply. In particular, hangs over the collector «dolzhok» auction house in excess of $ 10 million. In addition, if Maynor lose, it will cover all legal costs.
The amount of Health Maynor hopes to achieve at Christie's, has not yet been disclosed.
Material prepared Yulia Maksimova
Sources: , artinvestment.ru
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