Auction Rescheduled Following Postponement Due to Bankruptcy Filing
We suppose you should take this with a grain of salt, but the artwork collection stubbornly attributed to late King of Pop Michael Jackson is going back up for auction following its delay from August 3. The auction, presided over by King Auctions and held up after the Jackson-Strong Alliance filed Chapter 11 bankruptcy on August 2. But a U.S. federal judge has now thrown out the bankruptcy filing and ordered that the art collection go back on the auction block no later than Oct. 5.
The original sale was court ordered by the Superior Court of California to liquidate shared asset that were co-owned by the Jackson-Strong Alliance and Vinson Investments as part of a debt settlement.
Jackson estate disputes authenticity of art
But even beyond the auction, Michael Jackson’s estate has expressed doubt over whether or not the artworks are genuine. In a statement to Billboard, Jonathan Steinsapir, counsel for the estate itself, clarifies where the estate stands with respect to the case.
The Michael Jackson Estate vehemently denies allegations that this drawing was made by the superstar. We have told the auction house and others this MANY times now. The Estate requested corroborating proof that these works were created by Michael, so far, no such evidence has been produced.”
But Steinsapir also conceded that the estate’s stance is their take; “The attorney for the Estate of Michael Jackson has confirmed in writing to King’s Auctions’ counsel that the Estate’s position is their opinion only, and they have no factual basis upon which to dispute the authenticity of the artwork,”
AUCIRCLE ART – 76 Artworks Signed
There will be 76 signed works, 26 double-sided in total for purchase also with a certifiacte of authenticity from autograph specialist Roger Epperson. Auction will start with a lot for the entire collection, reserve of $1 million and estimated value between $12 million and $30 million
If the reserve is not met, the individual pieces will be auctioned separately with a $9,999 starting price. Single works are priced between S100,000 and $1 million.
Jackson-Strong Alliance Backstory
Michael Jackson and Australian artist Brett Livingstone Strong came together in 1989 to create the Jackson-Strong Alliance. The pieces of art in question are probably from this period. The auctions are expected to generate a buzz among collectors, even though the battle over their legitimacy will drag on.
Feature Image Courtesy: Gurney’s
