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A Luxembourg attorney who is also an art collector claims that Christie’s is canceling a purchase that he has already paid for because of an unspecified error. In April Philippe Dupont filed papers in federal court in New York to try to force Christie’s into arbitration over the cancellation. Dupont is a founding partner of the Arendt & Medernach law firm and specializes in banking and finance.

According to the lawsuit, Dupont bought Coach by David Hammons at a March 3 postwar and contemporary art sale in New York City, bidding by telephone. He bid $390,000, and the fall of the hammer awarded the artwork—a 40" x 29¾" pigment on board that was the catalog cover lot—to Dupont. The estimate was $300,000/500,000, and with buyer’s premium Dupont paid $475,500.

To read more:

https://www.maineantiquedigest.com/stories/christies-wants-to-cancel-sale-but-buyer-fights-back/6427

Lead Image Courtesy Leonard J. DeFrancisci, wikipedia

Screen Shot 2017 07 01 at 11.25.24

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AAD REPORTS

AAD REPORTS   Reports, news and opinion from Art-Antiques-Design.com