Seller's Remorse?

May 4 2020

Image of Seller's Remorse?

Picture: Christie's

Posted by Adam Busiakiewicz:

Some rather unusual news has emerged regarding a Rubens that was sold at Christie's in 2018. The picture above, A Satyr holding a Basket of Grapes and Quinces with a Nymph (c.1620), was purchased at auction by billionaire entrepreneur Sean Parker on behalf of his charitable foundation for around $6m ($4.8m hammer). 

After the auction the picture's consigner Debra Turner expressed remorse and decided to 'cancel' the sale. Christie's then proceeded with arbitration to resolve the matter. Their recent conclusion was that the auction house had fulfilled their contractual obligations and thus the Rubens had been successfully acquired by the winning bidder. They are now seeking to confirm the arbitration's award in the federal courts.

Most curiously, the picture has been removed from the auction house's website (Christie's, New York, 19 April 2018, lot 41).

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