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Date: | Wed, 19 May 1999 08:49:03 -0400 |
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A friend in the USA paid the following sums to send an C18th oriental
mirrored painting to an auction house in New York:-
1. $1,000: insurance (painting + glass + frame)
2. $300: crate for transportation [interestingly, this is not being
returned to my friend]
3. $500+: half the shipping costs [he is required to pay the full shipping
costs for its return].
It was valued at around $30,000, with a possible auction price of twice
that amount. It failed to reach its reserve.
Whilst in the premises of the auction house, a corner of the frame was
broken off - and lost. The auction house has offered to repair the frame
(presumably they will recoup that cost from the insurers). They have also
released my friend from his obligation to pay a 15% commission on $30,000
for the painting not having sold.
However, is this 'sharp' practice on the part of the auction house? Surely
the value of the object has decreased because of the damage to its 250-year
old frame?
My concern is that an insured object entered a reputable auction house and
was damaged (and probably devalued) whilst in the 'care' of that auction
house. There is no evidence of accepting culpability for either the
damage, or the loss of the frame's corner. It doesn't fill me with
confidence about auction houses. How safe are our objects when we place
them there?
If anyone has had a similar experience, or has any comments, I should like
to hear them.
With thanks,
Jane Burrell
Museums Officer
West Dorset District Council
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