Lehman Brothers to sell off art collection

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The Independent Culture

Bankrupt financial group Lehman Brothers Holdings Inc plans to sell about 450 works by contemporary artists including Robert Rauschenberg at auction in September, according to court documents.

Lehman, which filed for bankruptcy in September 2008, has asked the court to approve the hiring of auction house Sotheby's to manage the sale.

A Damien Hirst work, We've Got Style, is expected to fetch the most, with an estimate of around $1m. The collection also includes works by Andy Warhol, Cindy Sherman, Cy Twombly, Claes Oldenburg and Maya Lin, best known for the Vietnam Veterans Memorial in Washington DC.

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