According to a piece in Crain’s, New York-based art dealer and gallerist Tony Shafrazi filed a claim on September 7th against auction giant Christie’s for $7 million with the New York Supreme Court. He alleges that the Basquiat he purchased in 1990 for $242,000 is a fake and Christie’s knowingly sold it to him regardless.
Apparently Basiquat’s father told Christie’s that the painting was not real, yet it was sold to Shafrazi, who in turn sold it to collector Guido Orsi in 1991. The dealer and collector duo did not find out until last year that the painting was a fake.
So why the $7 million claim? Crain’s reports that the breakdown of the charges are as follows:
- $2 million in damages based on “a spike in Basquiat’s market value since 1990″
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– $5 million in “exemplary damages”
The auction house is apparently saying that the case has “no merit”.
Given the incredible increase in prices for Basquiat’s work the past 15 years or so, it is highly doubtful that Shafrazi and Orsi are going to back down until the Court makes a decision.
A piece by Basquiat was included in Christie’s contemporary sale this past week, estimated between $1.2 and $1.8 million. It sold for slightly under the low estimate at $1.16 million.
Christie’s denies selling fake painting [Crain's]
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Through a competitive interview process, JCPenney selects over 100 interns each summer to fulfill 10-week assignments primarily within JCPenney Stores as well as Home Office divisions including merchandising, marketing and information technology. As part of the Store sales team, a JCPenney Sales Manager intern experiences firsthand the daily operations of a retail store by actively participating in sales leadership, inventory flow, event planning and merchandise presentation.
During the course of their internship period, Sales Manager interns undergo considerable training both on-the-job as well as in formal learning environments through self-study materials, online training courses and remote televised classes that engage JCPenney interns in a live Q&A session with executive leadership. After completing the program, interns will have received a robust retail management experience that comprises executing marketing events, setting seasonal merchandise and analyzing customer satisfaction scores. Given their newly acquired business skills, the majority of qualified Sales Manager interns are offered a position in the JCPenney Sales Manager trainee program upon graduating from college. website jcpenney printable coupons
“Offering a valuable internship experience is one of our most effective recruiting tools for attracting the best talent to our Company,” said Mike Theilmann, chief human resources and administration officer for JCPenney. “Achieving this distinction by BusinessWeek signifies our commitment to making JCPenney the preferred choice for a retail career.”
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