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Heritage Auction House Sues Christie’s and Collectrium for 450...Billion

  1. MPWATCH Watch Lover Dec 14, 2016

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    Here's the article posted below....basically it's like making thousands of fake OF accounts to gather information on members for illegal solicitation. Happens a lot in the business world, but when you're scrapping contacts from your competition, things get ugly. What do you guys think of these two power houses? Anyone bought from either? What's your take on this situation? 450 Billion would put Christie's under...unless....Collectrium was the actual company executing this illegal action. My thoughts is Christie's did this through a subsidiary to keep them safe. Sketchy to say the least. Enjoy!

    Heritage Auction House Sues Christie’s and Collectrium Over Data Theft

    Dallas-based Heritage Auctions has filed suit against Christie’s accusing the auction giant of harboring a large trove of sales data stolen by the operators of its Collectrium database. The suit alleges that Collectrium staffers used various accounts, one of them registered under the name of the silver-screen spy Jason Bourne, to pilfer data that now makes up the vast majority of the data Collectrium offers in certain categories.

    Christie’s bought Collectrium in 2015, with some sources placing the price at $16 million.

    Alleging that Collectrium stole three million listings and claiming the right to sue for $150,000 each for each infringement as well as amounts of up $25,000 for each violation of the Digital Millennium Copyright Act, the suit could tally significant amounts.

    “It’s a whole lot of money, but we’re in uncharted waters in terms of legal remedies,” said co-chairman and CEO Steve Ivy, speaking to artnet News by phone, explaining that different legal standards could be used to determine the number of infringements and violations.

    Exhibits attached to the suit show verbatim copying of Heritage listings for two items, including a guitar formerly owned by Prince, which the auctioneer offered for sale in summer 2016.

    “We are reviewing the allegations against Collectrium, a wholly independent subsidiary of Christie’s, and will withhold any further comment regarding the beta product in question at this time,” a Christie’s spokesperson told artnet News via email.