A year ago, Halsey Minor bought this Childe Hassam painting Paris, Winter Day for $3.9m. Today it was sold because Minor refused to pay for it and some other paintings, including an Edward Hicks Peaceable Kingdom. Today, the painting was sold for $2.3m. Granted the world and the art market have seen a dramatic shift since then and the price is in line with the reduction in art prices in other areas. In the subsequent lawsuits between Sotheby’s and Minor, no mention has been made of how the issue has been resolved for the consignor. So it is not known whether the party that suffered Minor’s mistake is Sotheby’s or the consignor.
0May 21, 2009