Judge Gleeson

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AT AUCTION, plaintiff collector bought a trunk that belonged to the black performer Richard “Charlie” Lucas. Its contents included a number of photographs. Several weeks after buying several photos for $1,500, defendant offered to buy the trunk and its remaining contents for $2,000, allegedly assuring plaintiff that if the photos proved to be worth more than the purchase price he would pay plaintiff more money later. Found to have been taken by Diane Arbus, the photos were expected to sell for more than $1 million at an April 8, 2008, auction. Plaintiff’s diversity action asserted claims for the sale’s rescission, restitution and reformation of the agreement to sell, fraudulent inducement and unjust enrichment. The court’s Sept. 5, 2008, decision denied dismissal of plaintiff’s rescission and fraudulent inducement claims. His conception of the parties’ contract as containing an open price term was plausible. Finding little publicly available information that Diane Arbus took the photos, the court said that plaintiff’s reliance on defendant’s representations could have been reasonable.