Word: abouts
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Dates: during 1980-1989
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A high school dropout who emigrated from England as a boy, Bond had come up the hard way, fueled by an insatiable drive to acquire, combine, take over. At 49 he was one of the richest men in Australia. He controlled an empire of assets under the umbrella of his...
But if the art market was going like the Wabash Cannon Ball through 1988 and 1989, Bond's own finances were not. His bid for Irises had been part of a consistent pattern: paying far too much for investments even though they were, as assets, sound. In 1987 he paid...
The auction house had no choice. It had punctually paid John Payson the full sale amount, $49 million, and now the exposure of the buyer's inability to pay for the painting would have been horrendous. Although the firm could have repossessed Irises and put it on the block again...
Meanwhile, rumors about Bond's delay in paying up were spreading through financial circles. Last January an Australian finance company approached an auction house in London with the utterly novel idea of packaging an option on Irises, in the event that Dallhold Investments -- the holding company through which Bond owned...
The lawyers reported that they could not be sure, based on the papers shown them, who owned it. It seemed to be owned jointly owned by Dallhold, Sotheby's and two Hong Kong corporations. (This conflicts with Sotheby's insistence that it had, and has, no ownership of any kind...