Lehman Brothers Office Art Up For Auction

by Deidre Woollard (RSS feed)
Oct 10th 2009 at 6:01PM

Tasteful prints and other works of art by some of the world's biggest art names once lined the corridors of the Lehman Brothers offices. Now several hundredd pieces from the collection will be put up for auction at Freeman's in Philadelphia on November 1. The auction showcases modern and contemporary art with works by Andy Warhol, Alexander Calder, David Hockney, Roy Lichtenstein and others. The art being sold is estimated to be in the $500,000 to $750,000 range. Money realized will eventually go to Lehman's many creditors.

This is just the first of a couple of auctions. On December 6, Freeman's will sell off 30 lots of European fine paintings from the Lehman collection. Next year, on February 12, another 500 lots or so lots will go up for sale. This collection is not part of the personal collection of Dick Fuld, the former CEO of Lehman, and his wife, Kathy. The Fulds sold a group of 16 artworks through Christie's last November for around $13.5 million. The piece shown at right, Roy Lichenstein's I Love Liberty, is a 1982 colored screenprint numbered 37/250.

Tags: art, lehman brothers, LehmanBrothers, prints, warhol