New York, US - Sotheby's Sues Cnet Founder for $16.8 Million in Fees
Posted on September 4, 2008 at 8:51 PM.
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Sotheby's the world's largest publicly traded auction house, sued , Halsey Minor, founder of Cnet Networks Inc., for not paying $16.8 million for the purchase of works of art including Edward Hick's ``Peaceable Kingdom.''
From Bloomberg
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Sotheby’s is spending all there time talking about what I said at this time or at that time or why I didn’t have the money, etc, etc. Why would they or anyone care about these words? It’s just a lot of irrelevant noise. Do any of their multiple scripts alter in a meaningful way the fact they did not get the money from me. Its just theater.
They of course know I have the capacity to pay but they want to focus on everything except my one simple question. Did they have an economic interest in the painting they were showing me privately and touting, or did they not. Who knows I still may have paid $9.6 mm for the painting but at least I would have been able to take their scholarship/marketing in context and with a grain of salt.
When a broker shows you a home and sells you on its merits and you find out later the broker owned the home, the law has been broken and the process has been tainted. I am going to bet that when they have to finally cough up the documents and stop spouting nonsense they will have served in the dual role of auctioneer and secret undisclosed owner. And the supposed dialogue will have been long forgotten but their act will not since their business relies on trust.
Sometimes companies need to learn that disclosure and honesty is better in the long term than fighting and disparaging. It would sure have saved me a lot of wasted time thats for sure.
Best.