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Arbitrator Rules Against Exclusive Rock and Roll Auction House in Claim Filed by Consignor

Law Firm of Gardner & Rosenberg P.C. Press Release, Sept. 15, 2015:

New York, NY ‐ A New York arbitrator this week slapped a high end Manhattan auction house with a judgment of more than $600,000 on a claim that it cheated a client out of the sale of two unique Michael Jackson items. The client alleged that Gotta Have Rock and Roll, a rock and roll and pop culture‐ themed auction house, and its owner, Edward Kosinski, the husband of New York real estate heiress Jacqueline LeFrak, did not sell the items at auction but instead secretly sold them to an insider. The arbitrator also found liable a Gotta Have Rock and Roll affiliate that runs a midtown Manhattan store that prides itself on fetching huge prices for high end collectibles such as Elvis Presley’s “Peacock Jumpsuit” and Bruce Springsteen’s first car.

The claimant, Peter Slingluff, is a long‐time collector of rock and roll and pop memorabilia. He consigned two items to the auction house in 2009: a promotional poster of Jackson’s iconic Bad album, on which Jackson had inscribed the lyrics to the song We Are the World; and Jackson’s handwritten lyrics to his own hit song, Billie Jean. Steve Cyrkin, manager of Autograph Magazine Live, a popular online forum for collectors of autographed memorabilia (http://live.autographmagazine.com), and an expert in Michael Jackson autographs, said that the Bad poster in particular was “a very impressive and unique piece.”

Slingluff said that after the auction, Kosinski told him the items hadn’t met the reserve prices and that the auction house had sold them in a private party sale; Gotta Have Rock and Roll then sent him a check for $40,500. Slingluff alleged he never authorized such a post‐auction sale. Slingluff says he became suspicious when the items turned up about a year later at Los Angeles‐based Julien’s auctions, where they sold for nearly 10 times what Gotta Have Rock and Roll had paid him. Slingluff suspected that the auction house and Kosinski took the items for themselves and secretly sold them for a huge profit.

Arbitrator John M. Brickman entered an award for Slingluff representing the later sales price of the items, attorney fees, and interest. Attorneys Josh Gardner and Nick Rosenberg represented Slingluff. Rosenberg said, “we are obviously pleased with the outcome and that Peter will recover the value of what was taken from him.” Rosenberg went on to note “unfortunately, we have seen how easy and rampant it is for auction houses and consignees to breach the trust their clients place in them in this often highly opaque industry. We hope this ruling will send a clear message to unscrupulous auctioneers and consignees.”

For more information, contact:

Nicholas J. Rosenberg
Gardner & Rosenberg P.C.
33 Mount Vernon Street
Boston, MA 02108
617‐390‐7570
nick@gardnerrosenberg.co

Tags: Gotta have rock and roll, Michael Jackson, autograph, ed, edward, gotta have it, kosinski, memorabilia, peter, slingluff

3 members like this

Comment by RobTwoRs on September 15, 2015 at 4:31pm: Wow. Nothing suprises me anymore in this game...

Comment by Adam Halloran on September 15, 2015 at 5:58pm: Just curious. Did he cash the initial check for 40K or did he contact a lawyer right away? I would have freaked out on them RIGHT away if it did not make reserve and they told me they sold it in a private sale without my consent!

Comment by Steve Cyrkin, Admin on September 15, 2015 at 6:36pm: The plaintiff, Peter Slingluff, is a member of this site. Perhaps he or his lawyers can answer your question.

Comment by Rick Meyer on September 15, 2015 at 9:04pm: Good for him.

Comment by Paul on September 15, 2015 at 9:56pm: Is there any pictures of the items that were sold?

Comment by Steve Cyrkin, Admin on September 15, 2015 at 10:39pm: Yes, they were all sold at Julien's Auctions. I was a witness for Slingluff in this case (a binding arbitration) and everyone is under a confidentiality order regarding case evidence and testimony. I need to verify tomorrow that I can post all the images and links.

Comment by Paul on September 15, 2015 at 10:42pm: I'd like to see these items so I hope it works out. It's big business rock memrobilia and that's why we get scum bags doing the wrong thing. Kudos to the guys winning the case.

Comment by A.B. on September 15, 2015 at 11:35pm: Good for Peter! Congrats!

It´s time that we start our own auction site...looks like you can´t trust anyone anymore :-(

Comment by Nate on September 16, 2015 at 12:02am: Blimey. for us 'little-uns' in this game you think this stuff might go on but to have it confirmed is still shocking. Not been a good year for the credibility of US auction houses (though I'm fairly confident it's the same the world over).

Comment by James on September 16, 2015 at 1:16am: Unbelievable, yet believable! Thanks for this story, Steve. What sneaky little b*stards they were. I'm sure glad justice prevailed, and Peter got his money. It really makes you feel secure in sending your treasured items off to auction houses.