Wednesday, February 10, 2010

"We can’t have people bid at our auctions and disappear without paying"

Bloomberg: "Sotheby’s is suing two Chinese for payment on $270,300 worth of antiques they won at its Hong Kong sale in October 'to send a message it won’t stand for defaults,' said Asia chief executive Kevin Ching. ... The U.S.- based auction house is also pursuing another buyer who won five antique paintings and wouldn’t pay."