Thursday, April 10, 2008

More on the Arbus lawsuit

From Randy Kennedy in today's New York Times.

Josh Baer says "sources close to the deal report that Phillips (as noted in the catalogue) 'has guaranteed a minimum price to the owner of the sale and has direct financial interest in such lots.' Unlike media reports of the value being in the hundreds of thousands, the estimated value of the sale was approx $1.7-2.4 million, with the guarantee being in that range (we believe)."