The battle for the lead in the auction ended in court
ARTinvestment.RU   19 мая 2009

Collector Gregory Kallimanopulos who participated in the May 13 auction of works by modern and postwar art Christie's, sued the auction house, demanding to recognize his right to a picture of Sam Francis “Gray”

battle for particularly valuable items for bid no surprise, but the auction battle, no matter how violent they are, usually fading with the end of bidding and do not extend beyond the trading room.

Struggle for a rare early picture painted by Sam Francis (Sam Francis) «Gray», exhibited at the bidding works of contemporary and postwar art Christie's, held in New York on 13 May , moved from the auction hall, directly in the courtroom (ÎÅÞÁÓÔÙÊ case of auction practice, but not isolated).

Kallimanopulos Gregory (Gregory Callimanopulos), Greek shipping magnate and collector, filed in U.S. Federal Court lawsuit, which said that the auction house Christie's auction correctly resumed his picture «Gray» after his proposed call price at $ 3 million has already been accepted by the auctioneer. It also says that then Christie's sold a painting for 3.2 million dollars Heyler Joanne (Joanne Heyler), director and chief curator Fund Broad Art Foundation, funded by billionaire Eli Brody (Eli Broad). However, any comments about a purchase or by Joanne Heyler, nor by the Fund have been received.

representative of Christie's Seylz Milena (Milena Sales) said: «With regard to this litigation, we, on the other hand, can only argue that Christie's had acted in full accordance with the terms of sale».

Gregory Kallimanopulosa The lawsuit says that the auctioneer Christopher Bourges (Christopher Burge), conducted the auction, told the chamber that the canvas of Sam Francis, is estimated at 2-3 million dollars, «sold participated by telephone buyer for 3 million dollars ». But then again, he continued the trade, that the reason was that at the moment of impact hammers in the room was raised a new signs.

However, one of the leaders of the works of contemporary art auctions Christie's April Jacobs (April Jacobs), to participate in the auction on behalf of Gregory Kallimanopulosa, trade over the phone, said: «I was standing in a place where good look through the hall, and did not see anyone from attending lifted the plate before the hammer fell. I think we [April Jacobs and Gregory Kallimanopulos] identified a critical value, and the painting was sold to us for $ 3 million ».

According to the official results of the tenders, the picture of Sam Francis «Gray» was sold for 3.7 million dollars, including buyer's premium. Christie's buyer's name not reported.

material produced Catherine Onuchin, AI

Sources: bloomberg.com , artinvestment.ru