julie mehretu

Lehman Art Brings In Over $12 Million

Fine art formerly owned by Lehman Brothers brought in $12.28 million at Sotheby's New York on Saturday, September 25. The money will be a drop in the bucket toward the more than 600 billion dollars owed to creditors of Lehman Brothers, which declared bankruptcy on that fateful day back in 2008, causing global financial panic. The AFP reports that the sale set 17 records for artists, including Julie Mehretu, whose painting "Untitled 1," shown above, sold for $1,022,500, sailing over the estimate of $600,000-800,000. One lot that failed to sell was an early piece by British art darling Damien Hirst.

Tags: art, damien hirst, julie mehretu, lehman brothers, sothebys