Apr 24 2008
Failed Sotheby’s Lot Tied to Alleged Theft and Mafia Threats
NEW YORK — A monumental porcelain centerpiece with gilt bronze mounts, made by the Imperial Porcelain Manufactory in St. Petersburg during the reign of Nicholas I (1825–55) — the only major lot that failed in the Russian works of art sale at Sotheby’s last week — has become the center of a legal dispute, the New York Sun reports. As reported last week by ARTINFO, the centerpiece, comprised of eight jardinières and measuring 33 by 45 inches, was estimated to bring $2–3 million, but sank at $1.6 million.
The day before the sale, Elyaho Malekan, a collector from Great Neck, New York, contacted Sotheby’s through his lawyer, claiming that the work’s consignor, Isak Sakai of Sakai Antiques, had stolen the piece from his home and said that Malekan and his family would be killed by the Russian mafia if he tried to recover it.
While the auction house reached an agreement with the parties permitting the sale to go forward, with the winning bidder acquiring full title and Sotheby’s holding onto the proceeds until the dispute was settled, when the piece failed to sell, Malekan initiated legal proceedings against Sakai and Sotheby’s at the New York State Supreme Court.
According to the complaint, Sakai visited Malekan’s home in 2006 to estimate the piece’s value. Sakai took parts of the centerpiece with him to show to potential buyers and later returned to the house to steal the remaining parts. Sakai then told Malekan that he had sold the work for $250,000 to a member of the Russian mafia, who would kill the Malekans if they made trouble. Sakai convinced Malekan to accept several small antique statues and two postdated checks as payment.
Oscar Michelen, Sakai’s lawyer, dismissed Malekan’s claims as “buyer’s remorse.” The lawyer said that his client had a written contract for the sale, that the checks and statues were worth about $280,000, and that Sakai invested $200,000 in restoring the centerpiece.
Sotheby’s, which was named in the suit because the centerpiece is still in its possession, denied that the piece failed to sell because of the dispute.
Failed Sotheby’s Lot Tied to Alleged Theft and Mafia Threats - ARTINFO - Published: April 24, 2008 - http://www.artinfo.com/news/story/27450/failed-sothbeys-lot-tied-to-alleged-theft-and-mafia-threats/
