More Buyers Lined Up For Lehman Art Auction Than When Firm Sold

The art and ephemera of the failed Lehman Brothers firm fetched more interest at auction Wednesday than it itself could when it was put on the block, racking up $2.53 million in sales from over 200 participants. Of note was highest sale price item Gabriel Orozco’s “Atomists: Jump over” for $157,248, and a metal Lehman Brothers sign and a lot that included a sign of its mission statement that went for $21,744. The sign read, “We are one firm defined by our unwavering commitment to our clients, our shareholders and each other.” Ah, memories.

See the entire Christie’s auction list and winning bids here.

Lehman Memories Sold Off at Auction [New York Times]

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  1. DeepHurting says:

    Is there anything more vague and meaningless than a company mission statement?
    They remind me of those old SNL commercials for Grayson Moorhead Securities.

  2. BuyerOfGoods3 says:

    I’d like to see how much of that money they can track back directly to Lehman.

    Meh.

  3. loquaciousmusic says:

    I re-read John Helyar and Bryan Burrough’s brilliant Barbarians at the Gate this summer and was surprised—although I probably shouldn’t have been—by how Lehman Bros. failures in 2008 mirrored Shearson Lehman Hutton’s failures twenty years earlier during the RJR Nabisco leveraged buy-out.

    Some things never change.

  4. madanthony says:

    Why does the headline act like this is a big surprise? There are a lot more people who can afford to buy a piece of art than there are who can afford a failed financial institution.

    • TerpBE says:

      Exactly. I’d probably get a lot more potential buyers if I put my bike on craigslist than if I put up my house.

  5. AustinTXProgrammer says:

    Got to decorate the lobby at the Bank of Evil somehow! (“Despicable Me” reference)

  6. AllanG54 says:

    The just left out the first two entities from the last line of their mission statement. The part about unwavering commitment to each other (meaning employees) they had no problem keeping.

  7. naturalblue says:

    Don’t shoot me, but I was actually a little sad about Lehman Brother’s failing. I worked for one of their subdivisions and man, that was the best job ever. AMAZING health insurance that you didn’t have to wait 90 days for, 3 weeks vacation from the day you started, above average pay, 100% matching for 401(k) contributions AND they brought in a massage therapist to give us massages every other week.

    Yeah, there was corruption at the top, but I have to say I wish more companies treated their employees the way that they did.