Francis Bacon "Study for Self Portrait"

Francis Bacon \”Study for Self Portrait\”

The Family trust led by the Connecticut collector George A. Weiss which owned a Francis Bacon painting sued Christie’s Inc on Friday, saying the company reneged on a minimum price guarantee of USD 40 million.

The lawsuit, filed in US District Court in Manhattan, alleged Christie’s reached a minimum price guarantee regarding the sale of Bacon’s “Study for Self Portrait” and has refused to pay the minimum guarantee. Christie’s is the US unit of Christie’s International PLC.

An agreement was struck in late July, but by September, after the auction house already had the painting, Christie’s said it would no longer honor the guarantee because of the faltering global economy.

The painting failed to sell at Christie’s November 2008 Post War and Contemporary Art sale, according to the lawsuit.

The lawsuit is seeking USD 40 million, plus interest and damages.

Christopher

Operations Manager at Bad at Sports
Christopher Hudgens is the Operations Manager for BaS and works in various other capacities for other organizations in the Chicago Art & Culture scene. Most recently as Business Operations Manager for the Bridge Art Fair and currently an advocate for all things art & technology.

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