Francis, Briest, one of Paris' top auctioneers, has been charged on December 23rd 1997 for having given generous estimates for modern works which were due to be mortgaged in exchange for a bank credit in favour of two dealers in 1990. The bank had granted such credit to Josée-Lyne Falcone and M. Carpentier but eventually discovered that the auctioneer had over-estimated the works.
It later sued the two dealers to recover the money that had been lent and Francis Briest has now been charged for having acted without due consideration in giving exaggerated estimates for the mortgaged works. Meanwhile, another Paris auctioneer is due to face charges following the controversial sale of the collection of the widow of an industrialist. The 90-year-old woman, who died recently, had been ill for some time and was under the care of her servants, gardener and caretaker who stole huge amounts of money from her bank account. One of her heirs discovered that she had been held in almost total seclusion without being given any appropriate treatment and worse that her servants had sold part of her collection of furniture and paintings at auction for some $ 10 million. The auction had been held without the autorisation of her legatees and justice sources said the auctioneer might face charges for neglect.
Francis, Briest, one of Paris' top auctioneers, has been charged on December 23rd 1997 for having given generous estimates for modern works which were due to be mortgaged in exchange for a bank credit in favour of two dealers in 1990. The bank had granted such credit to Josée-Lyne Falcone and M. Carpentier but eventually discovered that the auctioneer had over-estimated the works.
It later sued the two dealers to recover the money that had been lent and Francis Briest has now been charged for having acted without due consideration in giving exaggerated estimates for the mortgaged works. Meanwhile, another Paris auctioneer is due to face charges following the controversial sale of the collection of the widow of an industrialist. The 90-year-old woman, who died recently, had been ill for some time and was under the care of her servants, gardener and caretaker who stole huge amounts of money from her bank account. One of her heirs discovered that she had been held in almost total seclusion without being given any appropriate treatment and worse that her servants had sold part of her collection of furniture and paintings at auction for some $ 10 million. The auction had been held without the autorisation of her legatees and justice sources said the auctioneer might face charges for neglect.
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