Former owner of valuable Persian carpet sues auctioneer for mis-estimate « AMA
In Germany, the former owner of a Persian carpet is suing the auctioneer that evaluated it. The carpet, estimated at €900 by the auctioneer, was sold for €19,000. However, after being put on auction last year at Christie’s in London, it was resold for €7.2 million.
The auctioneer is currently being accused by the former owner of the carpet, of having failed to carry out his duties of advice, in underestimating this extremely valuable object. The Persian carpet dates back to 17th century and belonged to the Countess of Béhague: a fact the dealer should have known. Regarding the auction, the former owner was agreeably surprised when the price soared up to €19,000, however a few months later, the same carpet was resold by Christie’s in London for €7.2 million.
The former owner claimed €350,000 of compensation, the amount in which Christie’s evaluated the object before being put on sale. In terms of negotiations led by 7 December at the court of Augsbourg, the plaintiff has however reviewed her demand and declared to accept a compensation of €100,000. The auctioneer has refused to settle the dispute, explaining that he gathered several experts to evaluate the carpet and neither of them were able to identify its true origins. A hearing will be held on 27 January if no settlement can be agreed upon until then.
