Gotham - Latest Intelligence

I just got off the phone with the auctioneer, Eliot Millman. He said that it was a difficult situation and that it was his job "to recover the judgment" for the landlord, who is owed "between $500,000 and $600,000." He said he expected the contents to be sold to a single bidder—"that's the way I think it will go," he said. Millman said the landlord planned to give any buyer of the entire contents until June 8 to vacate the premises.

If you are thinking of going to watch, be aware that the entry fee to get inside is $1000 cash or certified check. "This is not a gallery sale like at Christie's or Sotheby's," Mr. Millman said. "This is a sale by the City Marshal."

As for who might buy the inventory lock, stock, and barrel, my money's on Michael Powell of Powell's City of Books in Portland, who has made acquiring defunct bookstores something of a cottage industry. The Strand is another possibility, though one insider thought they had too much uncatalogued inventory already. I suppose an upstart Internet used bookseller with a lot of capital might be another option.

Comments

[jgodsey]

this kinda of thing brings a cold feeling in the put of my stomach.

[theorist]

Thanks for keeping us up to date on this.

[so sad]

I hate seeing that. Only because the marshal is the same guy who's after me and he is the highest grossing marshal in the city.
I don't understand why you need a grand to go in. guess that goes to the marshal's pocket, too.