Last Updated on 9/4/2008 by bidz

Sotheby’s Sues CNET Founder for $16.8 Million in Fees

Bloomberg News
September 4, 2008

“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 Hicks’s “Peaceable Kingdom.”

The suit, filed yesterday in Manhattan federal court, claims Mr. Minor bought Hicks’s biblically inspired painting and two other works in May and hasn’t paid for them. The works are worth more than $13 million and the auctioneer said it’s also owed legal fees, interest, and late fees, according to the complaint.”

Read the Full Story >>