Art Investment

Step out of “dead zones”

Representatives of the auction house Christie's issued a statement at the trial because of the paintings of Sam Francis (Sam Francis) «Gray», exhibited May 13 in New York for the bidding works of contemporary and postwar art .

The lawsuit, filed in Federal Court, Greek shipping magnate and collector Kallimanopulos Gregory (Gregory Callimanopulos) said that the auction house Christie's auction correctly resumed his picture «Gray» after the proposal Kallimanopulosom by telephone the price at $ 3 million has already been accepted by the auctioneer. According to the plaintiff, an 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», but then he continued his bid, explaining This is because at the moment of impact hammers in the room was raised a new signs. Kallimanopulos requires ownership of the painting, because, he said, suggested they call the sum of $ 3 million has become crucial.

However, Christie's officials reported that the latest price does Heyler named Joanne (Joanne Heyler), director and chief curator of the Fund Broad Art Foundation, the representative of billionaire Eli Brody (Eli Broad), which was in Sc. «Dead zone» - station hall, where the auctioneer did not see it. According to written testimony Bourget, Christopher (Christopher Burge), conducted the auction, «some of the time», when he dropped a hammer, indicating the sale of the painting for $ 3 million, another member of the auction house gave him a sign that higher prices offered another party, which he has not seen. Ibid Burj confirmed that the buyer of the work of Sam Francis became Joanne Heyler.

According to a fellow Bourget, deputy head of Christie's Americas Laura Paulson (Laura Paulson), Joanne Heyler was really easy not to notice - she sat in the front row a little bit right from the elevation at which stood the auctioneer.

Heyler itself in his testimony, noted that the plan to continue the fight for the cloth Francis, but decided to wait almost until the end of bidding and then propose a critical amount. Heyler proposed for 3.1 million dollars a picture, and Kallimanopulos in response to telephone calls amounting to 3.15 million. Then Heyler proposed U.S. $ 3.2 million and won the bidding. As a result, cloth got Broad Art Foundation for 3.7 million dollars c light buyer's premium.

Testimony under oath is also provided senior counsel on the part of Christie's Kobden Sandra (Sandra Cobden). She viewed a few videos from different points of the auction and make sure that Heyler indeed raised the plate before the hammer down.

Christopher Bourges in support of its rightness led to his testimony, the text from the catalog of the auction Christie's, which states that «the auctioneer has the discretion to reject an offer price», «to continue to bid what is right in your», and «to select the successful bidder».

Material prepared Onuchin Catherine, AI

Source: bloomberg.com , artinvestment.ru


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