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Text size [+][-]  Saturday March 20 2010GLOBAL EDITION

Considered view
02 Nov 2009 09:46

Lots of Lehman

Context News

Freeman’s auction of some 230 pieces of art that belong to the estate of the bankrupt Lehman Brothers investment bank brought in just over $1.3m. That surpassed the auction house’s estimate of a $750,000 haul from the first part of the collection up for sale.

 

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The investment bank’s dodgy real estate portfolio precipitated its collapse a year ago. But Lehman’s demise added value to a mostly unremarkable art collection. The pictures cruised past auction estimates. There’s no accounting for taste – or emotion – in asset valuation.

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More stories by:  Rob Cox






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