We saw the strong results for Lehman Brothers art holdings when they were auctioned in Philadelphia. Now Neuberger Berman’s art collection (Neuberger was owned by Lehman Brothers) is expected to be approved for sale in September at Sotheby’s, according to Carol Vogel:
The Sotheby’s auction will include more than 400 works, many bought in the early 1990s. “It’s almost as if they had a crystal ball,” said Gabriela Palmieri, a contemporary art expert at Sotheby’s in New York. Citing Mr. Currin, Mark Grotjahn and Julie Mehretu as examples, she said, “These artists were neither well known nor did they enjoy the celebrity status they do today.”
Among the highlights of the sale is Mr. Hirst’s “We’ve Got Style (The Vessel Collection — Blue),” a 1993 wood cabinet filled with glass and ceramic objects. The work predates his famous cabinets filled with cigarette butts or skulls or dead animals or diamonds. “This was a more poignant statement for what Damien’s cabinets would become in the future,” Ms. Palmieri said. She estimates it will sell for $800,000 to $1.2 million.
The auction will also include paintings like Mr. Currin’s “Shakespeare Actress,” a 1991 portrait based on a photograph of an anonymous woman that was included in a show at the Andrea Rosen Gallery in New York titled “7 Women.” It is expected to bring in $500,000 to $700,000.
There are also photographs by Felix Gonzalez-Torres, including a group of five framed gelatin silver prints (from an edition of two) showing birds that seem to disappear into the sky, the artist’s comment on the fleeting nature of life. The work is estimated at $350,000 to $450,000. And with “Pure Beauty, a retrospective of the California artist John Baldessari opening this month in Los Angeles and in October at the Metropolitan Museum of Art, works by Mr. Baldessari may be in demand. So it is good timing that the sale also includes “Stares (With Lamps),” a 1986 installation. It is estimated at $350,000 to $450,000.
Inside Art: Lehman Plans Auction of It’s Modern Artworks (New York Times)