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Case Summary

Nacht v. Sotheby’s Holdings Inc.

Nacht v. Sotheby’s Holdings, Inc., No. 100938-98, (N.Y. Sup. Ct. 1999).

At a Sotheby’s auction in November 1981, Eva Leclair Nacht purchased what was purported to be a Francis Picabia painting, completed in Paris circa 1930, for $23,815. Nacht received a five year warranty of

authenticity for the painting from Sotheby’s. In 1996, a vice-president of Sotheby’s appraised the painting at $225,000. Shortly thereafter . . . .

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