What happens if you think a painting sold for too little at auction?
That’s what Belinda Neumann-Donnelly believed when she sued her father, Hubert Neumann. She said that he drove down the price of Jean-Michel Basquiat’s “Flesh and Spirit,” which sold for $30.7 million at auction last May. Belinda, representing her mother’s estate, claimed that the artwork could have yielded a higher price but for her father’s interference. To that end, Hubert Neumann sued the auction house, Sotheby’s, to block the sale. Belinda contended that this frightened potential buyers, which depressed the price of the artwork.
Read more at Freeman’s Auctions.