{"id":12506,"date":"2025-07-15T20:50:04","date_gmt":"2025-07-15T20:50:04","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/12506\/"},"modified":"2025-07-15T20:50:04","modified_gmt":"2025-07-15T20:50:04","slug":"phillips-sues-billionaires-son-over-14-5-m-pollock-painting","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/12506\/","title":{"rendered":"Phillips Sues Billionaire’s Son Over $14.5 M. Pollock Painting"},"content":{"rendered":"

\n\tIn a lawsuit<\/a> filed earlier this month, Phillips<\/a>, one of the world\u2019s top auction houses, claimed that a billionaire\u2019s son failed to pay $14.5 million for a Jackson Pollock<\/a> painting that sold in New York this past November.<\/p>\n

\n\tThe lawsuit, filed in the Supreme Court of New York, alleges that David Mimran<\/a>, a film producer and the son of French businessman Jean Claude Mimran, had agreed to pay that sum as a third-party guarantee. Third-party guarantees, which have become common in major sales, especially since the onset of the pandemic, help auction houses defray the risk of offering art by bringing in an outside backer who agrees to buy a work, even if bidding does not break a certain barrier.<\/p>\n

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\n\tDocuments submitted alongside the lawsuit, which was first reported<\/a> by the New York Post over the weekend, suggest that the Pollock painting did not reach that amount when it came to sale. Per a third-party guarantee agreement submitted by Phillips, Mimran would have to pay just half of the $14.5 million if the work\u2019s hammer price\u2014an amount that does not account for additional fees\u2014exceeded $14.2 million.<\/p>\n

\n\tThe Pollock piece, an early drip painting, was the Phillips sale\u2019s top lot<\/a>. Painted ca. 1948, it sold for $15.3 million with fees.<\/p>\n

\n\tAccording to Phillips, Mimran sought an extension on his payment. \u201cMimran admitted that he owed the money, but he cried poverty and asked for more time,\u201d the lawsuit reads. Then, he allegedly claimed he could not pay under that new deadline. The auction house is now seeking just under $15 million from Mimran\u2014a figure that accounts for a 10 percent interest.<\/p>\n

\n\tMimran told Artnet News<\/a>, \u201cI love the painting and will buy it just a little late which happens often in this market and most auction houses had to deal with this.\u201d<\/p>\n

\n\tMimran\u2019s lawyer declined to comment to ARTnews and referred ARTnews to Mimran\u2019s comments to Artnet.<\/p>\n

\n\tHe is the producer of films such as Warrior (2011), an acclaimed drama starring Tom Hardy as a boxer. He also formerly held a high-ranking position in Endeavor Mining, which has mines in Senegal.<\/p>\n

\n\t\u201cIt\u2019s astonishing that Mimran believes he can bid like a\u00a0billionaire\u00a0and then hide behind the claim that he\u2019s broke,\u201d Luke Nikas, a lawyer representing Phillips, said in an email to ARTnews. \u201cIf Mimran didn\u2019t have a dollar to his name to pay for the artwork, as he claims, then he shouldn\u2019t have raised a paddle.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"In a lawsuit filed earlier this month, Phillips, one of the world\u2019s top auction houses, claimed that a…\n","protected":false},"author":2,"featured_media":12507,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[228,226,227,12222,229,88,12223,2932,11959],"class_list":["post-12506","post","type-post","status-publish","format-standard","has-post-thumbnail","category-arts-and-design","tag-arts","tag-arts-and-design","tag-artsanddesign","tag-david-mimran","tag-design","tag-entertainment","tag-jackson-pollock","tag-lawsuit","tag-phillips"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/12506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=12506"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/12506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/12507"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=12506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=12506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=12506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}