Monday, May 24, 2010

Minor Victory

Score one for collector Halsey Minor:

"Halsey Minor won a victory in his tangled dispute with Christie's ... on Friday when a San Francisco jury found that the auction house had waited too long to return some of Mr. Minor's art after failing to sell the art on his behalf. The jury's verdict in U.S. District Court led Judge William Alsup to order Christie's to pay $8.57 million in damages to Mr. Minor .... That amount represents the perceived drop in the resale value of Mr. Minor's artworks during the five months that Christie's kept the pieces."

Kelly Crow has the story in the WSJ. For background on this suit, see here. For another recent decision involving Minor (this time on the losing end), see here.