Cleveland attorney, Joe Esmont, was quoted in an article posted on WTHR.com - Indianapolis on October 14, 2010.
According to the author, artwork owned by the owner of bankrupt Fair Finance goes up for bid this weekend in Cleveland, Ohio. This sale could help the investors who lost millions investing with the Akron company. More than 100 works of art are up for auction, including paintings and prints by Peter Max, Picasso, Renoir and Rockwell. The collection was valued at $2 million.
The article went on to say that people love to buy art from famous and notorious people and it’s the name of the collection’s owner, Indianapolis businessman Tim Durham, that will carry the most value.
Joe Esmont, an attorney representing Fair Finance bankruptcy trustee Brian Bash, agrees that Durham’s notoriety could help push up prices at the auction. “It has helped get the auction to a lot more people than you would traditionally have, if you just were running the standard auction in, say, Cleveland or Indianapolis,” Esmont said. “We’d be very very lucky if we were looking at a 25 percent recovery for everyone,” Esmont also said.
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