The following update is from Marvin Sylvor, Spokesperson for City
Carousel Conservancy, Inc., posted at http://www.carousels.com/
"The city [New York] has made a most generous offer for the B&B.
Guernsey [the auction house] is still fighting the offer and
insisting to the McCulloughs that they should not accept it. The
McCulloughs are confused and overwhelmed. At the moment they still
believe that Arlan [Ettinger, President of Guernsey's Auction House]
is a friend. The offer is almost twice what the carousel is worth
based on past sales of carousels. I believe they should jump at the
offer. We still believe the right thing will happen and Arlan will
be shown not to have all the cards in his hands. The McCulloughs
are good people and would like the carousel to stay in Coney Island,
be restored and moved to new home next to the parachute. The building
is not yet designed but it would be on Parks property and Parks is
part of our support team. Thank you for your support and any thoughts
or ideas are certainly welcome."
It is my understanding that Ettinger has effectively rejected the
city's offer but that the McCullough family can still accept it before
the auction. If they do not, the carousell will end up selling,
whether complete or piecemeal, for much _less_ than the city's offer!
The McCulloughs are getting very bad advice from Ettinger about the
carrousel's monetary value. He claims it is worth over $2 million.
The fact that the carousel is the last in Coney Island means that it
must be saved, but that does not add $1 million or more to its value.
The auction is scheduled for this Wednesday, August 10th. I guess it
is up to the McCulloughs now.
Rochester, New York