A Florida art collector is suing Christie’s New York, after his Self-Portrait by Francis Bacon failed to sell at auction in November 2008. Christie’s had offered collector George Weiss a minimum guarantee, but allegedly refused to follow through after Weiss consigned the work. The auction house alludes to the collapse of the art market in its defense.
Christie’s Is Sued After Francis Bacon Painting Fails to Sell [New York Times]
Christie’s Sued For $40M Over Francis Bacon Painting [Wall Street Journal]
Christie’s Auction House Sued Over Francis Bacon Guarantee [Bloomberg]
Art Law Blog on the legal battle [Art Law Blog]