A handbag and a case worth $ 60m

Matthew Rubinger is a very valued entity right now. He is the man in the midst of the ongoing lawsuit filed by Heritage Auctions against Christie's for poaching their 26-year-old "pre-owned" handbag specialist.

While it may appear that the high-stakes battle is being fought for talent, Heritage had claimed that the expert with an intricate knowledge of the luxury goods industry has breached contract and will share "trade secrets" with his new employers.

Rubinger, positioned as an expert with an "Antiques Roadshow" style, has the ability to uncover treasure with a keen eye that can spot a Hermès Birkin and get a deal out of it. But what is the real reason behind the lawsuit that is being valued at $60 million?

The court filing in the Supreme Court of New York, New York presents a clearer picture. The "trade secrets" that Heritage is suing over include its database i.e. "customer and dealer list s", "customer requirements", and "compilations of information".

The suit also alleges that when Rubinger was "fresh from his graduation, even though he had no prior contacts", Heritage gave him access to its database of buyers and sellers.

Interestingly, Rubinger has also walked away with two high-level luxury executives from Heritage. So, Heritage's claim is this: The database, now in the hands of a larger, better-funded competitor, is worth $60 million — $40 million for what it says they could have sold the business for, and $20 million in damages.

Simply speaking, Heritage's stand is that the database of clients is Rubinger’s real asset and if Christie's is to acquire it, then it must pay for it. Effectively, Rubinger may just be the carrier for the real deal that Christie's is after.