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December 1, 2009

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Binion estate sued by coin auctioneer

Monday, April 26, 1999 | 11:42 a.m.

Superior Galleries Inc., the Beverly Hills auction house, also wants a court order that it be the auction house used when the bars and coins are sold.

Superior filed the suit in District Court. The suit says Binion contacted Superior last June about selling his collection of silver bars and coins.

Four Superior employees spent four days at Binion's Las Vegas home, categorizing and packaging his collection. At that time, Binion said he was not yet ready to sell his collection, but would auction it through Superior when he did decide to sell, alleges the suit.

Binion also promised to pay Superior $31,000 for categorizing and packaging the silver, states the suit.

Superior sent Binion an invoice for $31,000 on July 15, states the suit. It was never paid. Binion died last September. Superior filed a claim with Binion estate executor Jack Binion in January, states the suit. That claim was rejected.

Superior is asking for the $31,000 payment and for an order enforcing Binion's "oral contract," to use Superior as the auction house when the silver is sold. Superior would earn $100,000 in commissions from the sale, states the suit.

Binion estate representatives could not immediately be reached for comment.

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