Sotheby's Financial Services, Inc. v. Baran

SUMMARY ORDER

Michael Baran, a buyer, seller, and collector of rare gems, entered into an agreement arranged by Paul Russo of Sotheby’s, Inc. (“SI”), to bring gems owned by Brazilian gem dealers (the “Jezzinis”) to auction at SI. According to Baran, Russo told him that there would be three stones and that two would arrive first, the larger of which would sell for more than a million dollars and the third for even more. Bar-an also asserted that Russo told him that the Jezzinis would send the third stone within seventy-two hours after Baran transferred a specified sum of money to the Jezzinis.…