Value of Jewelry in Dispute to Require Expert Appraisal to Prove Damages

Defendant, along with Plaintiff’s now-estranged wife, Dorie, established a company that was in the business of selling jewelry at retail. In an action commenced against Plaintiff, Dorie, several of Plaintiff’s business entities, and Dorie’s limited liability company (LLC), Defendant alleged that Dorie misappropriated corporate funds, and that Plaintiff and his business entities aided in that wrongdoing.

Defendant’s action was partially settled by written stipulation in 2013, which provided that Defendant’s counsel (K&M), would “retain a jewel auctioneer with at ‘ least 15 years’ experience in the industry to provide a schedule of minimum selling prices of [certain] Jewelry, as determined by said auctioneer, subject to reasonable business practices, then offer all of the Jewelry at such minimum prices” to Plaintiff and his business entities, by sending them and their attorney “a copy of the schedule of selling prices of the Jewelry” . . . “via email.” It further provided that “if the selling price of any or all of the Jewelry is not paid to K&M within 10 days after the aforesaid notice . . . K&M may arrange for the sale of the Jewelry in its discretion.”

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