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Lehman Brothers art sale not too inspiring

a2aChristie’s has published the new catalogue for the upcoming sale of the artwork that framed the headquarters for Lehman Brothers that will be auctioned off on September 29th and the collection looks more like what you may find at a manor house or from the East India Company than what you would expect to find from a former investment bank.

Regardless, there will be 300 lots up for grabs on the exact date of the second year since the investment bank’s collapse was announced.  Despite the randomness of the collection, a few pieces in particular may spark some interest from contemporary art collectors such as a piece by Matthew Ritchie that is predicted to go for about £100,000.

Also listed in the catalogue of interest is a drawing by Jim Hodges titled ‘All To One’ expected to grab around £50,000 and a painting from Gary Hume listed at about £100,000.

When you get into the contemporary works of art what you will find is that most are unique one-offs such as two Chinese garden seats that could fetch up to £2,000, a pair of binoculars fashioned out of faux croc skin listed for about £600, and an ornate mirror made of giltwood expected to fetch about £1,500.

Also included in the collection are a wide array of books and Victorian prints including notable collections such as volumes by John Glasworthy valued at £800 and a collection of books by Lord Byron which may fetch between £200 and £300.

Altogether the administrator of Lehman Brothers, PricewaterhouseCoopers, is hoping that the auction will take in at least £2m which is only a small portion of the billions that the firm owes creditors.

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