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Prendergast Board Rejects Lowball Offers

The James Prendergast Library Board of Trustees has rejected all post art auction offers.

On Thursday, the board approved the recommendation from the Finance Committee to reject the offers that were below pre-auction sale estimates.

R. Thomas Rankin, board president, said two of the offers, one each for two different paintings, had been received by the time the board’s Finance Committee met on Dec. 7. One of the offers was for Jules Joseph Lefebvre’ “Fatima,” which was estimated to sell for $60,000 to $80,000. Library officials received a post-auction offer of $37,500.

The second offer was for Martin Rico y Ortega’s “Ponte Dell’Angelo,” which was estimated to sell for $80,000 to $120,000. The offer received by the library board was for $50,000.

A third post-auction offer came in after the Finance Committee had met, but the library board as a whole decided during the meeting to reject the offer of $17,600 for Jehan-Georges Vibert’s “Le Nouveau Commis.” The painting was estimated to sell for $30,000 to $40,000.

The paintings that weren’t sold during the Sotheby’s November European art auction are scheduled to be be reposted during a future auction at a mutually agreed upon date between the board and Sotheby’s officials.

There are still a number of Prendergast paintings that haven’t yet been available for auction. Of the 44 paintings consigned to Sotheby’s and Stair Galleries for auction, 18 have been made available to bid on, with 12 being sold.

In other library business, the board voted for new officers. Next year, Joni Blackman will be the new president. Other board officers will include Lynn Warner as vice president, Kris Denslow as treasurer and Michelle McCray as secretary.

Because of library bylaws, Rankin can no longer serve on the board at the end of the year. A trustee can serve three terms, with each term being three years, for a total of nine years. A board member can return to the board after one year.

Rankin said, despite some challenges and changes during his tenure, he was honored to serve as board president.

The board also approved the 2018 budget that totals $811,708, which was $104,341 less than the 2017 spending plan that totaled $916,049. Rankin said the materials budget took the largest hit. The library received $50,000 less in funding from the city of Jamestown for next year’s budget. Since 2016, the city has decreased funding toward the library by $300,000.

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