Lehman Brothers Auction is Awesome Home Shopping
The Wall Street Journal turns up its nose at the forthcoming auction of the art collection of Lehman Brothers, which is going up for sale on Sunday. "Many of the works are by unknowns, meant primarily to decorate wall space," says the WSJ. Sure, it's not exactly a world-class collection by any stretch—but also it's not at all a bad group of artists, or "unknowns." And most of the works seem to be prints, so of course this is by no means a big bucks auction. But a Julie Mehretu print for five grand? A recent Ed Ruscha for a grand? A 1975 Calder print for $1200??? This is like fun bargain basement shopping—with actual investment potential. You snobs!
Finally, the solution to our economy's woes!
Oh, I'm gettin' the weirdy context ads from "Official U.S. Property Acquisition Services" now…
Are there any repossessed drug-paintings or sculptures used to smuggle illegal aliens?
If this is anything like a foreclosure auction those are low ball sucker prices to get people in and there are outrageous reserve prices.
Important data point — the original Mehretu series is sold out, which always will increase the value of each print. Original price was $10k so expect this to go at auction for well above that.
http://www.crownpoint.com/prints/169/circulation
http://www.crownpoint.com/prints/195/your-space-building
Ruscha is sold out as well for $4800
I'm sorry all answers must be in the form of a question.
That is a really ugly Ruscha.
I'm going to go with "they had no idea who those people" are for 600.
I am sure they had a consultant buy those. They just gave them a really low budget so the consultant bought all the crap pieces because they couldn't afford any of the better stuff.
B of A used to have some pretty good art. Don't know if it's still true.