Christie's. Christie's General Counsel stated in a briefing that Mr. Baltser is known to Christie's as an interior decorator who engaged with the auction house in low value, but high volume transactions.[1] She said he would then sell the items purchased at Christie's to his clients or via his membership club.[2] When describing his purchasing history, Christie's General Counsel stated it was apparent Mr. Baltser engaged in fairly low level purchases that fit within Christie's understanding of his profile and operations.[3] She noted that Mr. Baltser purchased wine, as well as interior decoration items and ceramics.[4]
Bonhams. Bonhams U.S. Counsel and outside Counsel for Bonhams stated in a briefing that Bonhams U.S. does not consider Gregory Baltser to be an agent, but rather a dealer given that he is transacting in his own name and with his own funds and thereby assumes all contractual risks.[5] Bonhams U.S. also understood that Mr. Baltser often subsequently resells a purchased item to someone else.[6] Bonhams U.S. outside counsel noted that it is common in the auction world to have counter-parties and that when Bonhams U.S. sells to a dealer, Bonhams knows that the item may be re-sold.[7] While Bonhams U.S. requires bidders (including dealers) to disclose whether they are acting on behalf of a third-party, and to represent that the third-party is not on the SDN or other sanctions list, it does not require that a dealer disclose the identity of a third-party buyer. Bonhams U.S. views Mr. Baltser as the principal buyer.[8] Bonhams U.S. Counsel said that Bonhams U.S was not aware of who Mr. Baltser represented, nor did it matter, since Bonhams U.S. viewed him as the buyer.[9]
Phillips. While Phillips' General Counsel did not discuss Mr. Baltser directly, he explained during a briefing the legal issues surrounding agents in the art industry.[10] According to him, agents often bid on their own behalf to buy items for stock.[11] These dealers often have a shop and sell art privately.[12] He said auction houses have no way of knowing whether dealers are bidding on behalf of themselves or someone else unless the dealer tells the auction house.[13]
Phillips' General Counsel noted that sometimes after a successful bid at an auction, an agent will inform the auction house that they were actually acting on
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