Sotheby’s declined to comment citing client confidentiality.
According to the report: “Xiao wanted the piece so badly that, a day before the sale, he posted a now-deleted Instagram ofwith the caption: ‘Plz don’t fight with me tmr for this EMS. We are in LOVE,’ followed by three crying-laughing-squinting emojis.” The Smith painting still appears in several of his Instagram posts includingHowever, along with Xiao’s confidence in the market for Emily Mae Smith, his relationship with Phillips auction house has also taken a turn for the worse.
A source familiar with the situation said that no legal proceedings have been brought against Phillips by Xiao to date, and that Xiao still owes a sum that exceeds the money he claims he is owed, which is roughly $300,000.Further, the Xiao Museum is closed until the end of August citing maintenance, according to the museum’s official WeChat account.