The saga of the jeweler Ralph O. Esmerian, who owes about 187 million dollars to Merrill Lynch, 11.5 million - Sotheby and 7.5 million Christie's, continues.
He is going to pay part of the debt to the Auction House Sotheby on May 22, when he will put up for sale his picture of Edward Hicks "The Peaceable Kingdom With the Leopard of Serenity."
Related to the series of works by Hicks, illustrating the parable of the kingdom of beasts, narrated by the prophet Isaiah, the painting "Peaceful Kingdom", owned by Esmerian, was taken from the walls of the American Folk Art Museum, which had been in existence since 2000.
Before coming to the decision to expose the "Peaceful Kingdom" for auction, representatives of Sotheby made an unsuccessful attempt to sell the painting privately for $ 10 million. The painting was offered to collectors, as well as the American Museum of Folk Art, in the hope that its proxies will buy work. However, the amount of 10 million dollars, which greatly exceeds the price of 6.1 million dollars, installed on the picture "Peaceful Kingdom" in January 2007 at Christie's auction, scared off buyers.
Now, according to preliminary estimates, the cost of this work is from 6 to 8 million dollars.