Update: Lehman Art

On Saturday Sotheby's will auction portions of the Lehman Brothers art collection.  I wont go into many pre sale details as I have previously covered this in earlier posts.  What is interesting is that Alexandra Peers in writing for the NY Observer states this first contemporary art sale of the season may set the tone for future sales.  In past sales Lehman property has done very well.

I will post results from the sale on the Aw Blog when available.

Peers writes

The Sotheby's sale of the Lehman Brothers-Neuberger Berman contemporary art collection on Saturday, Sept. 25, will be keenly watched. As the first major contemporary art sale of the season, and one where works by some big names are priced competitively, it is a likely bellwether of the art market.

Peers continues

Sotheby's is expecting to raise as much as $10 million from the sale of 147 artworks. "The sale's a litmus test for corporate collecting. If most of the art sells, this would signify the return liquidity to the contemporary art market and the viability of institutional art collecting of works by emerging artists.

To read the full article, click HERE.