Fuld's Last Stand On Auction
The more observant and aesthetically sensitive ZH reader will have already noticed that Tranche 1 of the Lehman Brothers Collection (hereinafter known as the LBHI Creditors Committee ["LBHI-CC"] Collection) (warning: 50+ MB .pdf) will come under the hammer tomorrow at noon. The 300+ lots include significant works by Bernar Venet, Willie Cole, Arturo Herrera, Pouran Jinchi, Louis Lozowick, Roy Lichtenstein, Louis [sic] Bourgeouis, Terry Frost, Bernice Abott, Bernard Cathelin and Herbert Brandl. (No word yet on the various return tiers on the CAOs (Collateralized Art Obligations) that Goldman is underwriting next month.
Your author is pleasantly surprised to observe that liquidators to the House of Fuld, Alvarez & Marsal, have eschewed convicted co-conspirators Christie's (1766) and Sotheby's (1744) in preference to a distinguished Philadelphian auctioneer, Freeman's (1805), invitations to summer at Ron Baron's East Hampton guest house notwithstanding. (C'mon, what is a little conspiracy charge, or two, between friends, after all?)
ZH's intern will be bidding telphonically on the below signed Warhol screenprint depicting Warhol's "GENERAL FULD" mere days before Fuld's Last Stand at which he and all of his compatriots were killed by short sellers, Charlie Gasparino, the FSA, the Bank of England, and a host of other Lakota Indian allies.
Lot 405
ANDY WARHOL
(american, 1928-1987)
"GENERAL CUSTER"
from "cowboys and indians"
1986, signed and numbered 122/250 in pencil (there were also 50 artist's proofs), the full sheet; Gaultney Klineman Art, Inc., New York, publisher. Color screenprint on Lenox Museum Board.
sheet: 36 x 36 in. (91.4 x 91.4cm)
[Feldman & Schellmann II.379].
Estimate $15,000-20,000
Very faint traces of minor rubbing in the sleeve at bottom center that catch light very faintly when examined out of the frame and held to raking light, very faint smudging of the signature lower left, otherwise in very good original condition. Framed in plexi box frame.
ZH representatives will be at the preview parties for Freeman's “Fine American and European Paintings and Sculpture” auction scheduled for December 6th, 2009 and the “Works from the Lehman Brothers Collection: Part II” auction on February 12th, 2010, where we shall be overconsuming the higher value hors d'ouvres and more expensive liquor.
(4 votes)
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on Sat, 10/31/2009 - 22:34
#116378
ZH representatives will be at the preview parties for Freeman's “Fine American and European Paintings and Sculpture” auction scheduled for December 6th, 2009 and the “Works from the Lehman Brothers Collection: Part II” auction on February 12th, 2010, where we shall be overconsuming the higher value hors d'ouvres and more expensive liquor.
Marla, don't forget the raised pinkie while imbibing. And give them a little of the middle finger while you're at it but only after you're had your fill.
Don't forget to have the waiter dump a tray of hors d'ouvres in your pocketbook for the road.
on Sat, 10/31/2009 - 22:54
#116450
Sorry,, no room in here,, to many towels.
on Sat, 10/31/2009 - 20:37
#116382
not included in said auction are these under one dollar items:
like you very own house in America for just one thin dollar
Dollar Homes Lack Buyers
http://www.nbcchicago.com/news/local-beat/Dollar-Homes-Lack-Buyers-67566177.html
on Sat, 10/31/2009 - 22:21
#116432
Why anyone would pay $15,000 for a piece of paper that has at least 250 duplicates is beyond me. And while I am on the subject, I have always been of the oppinion that modern art blows. Give me realism any day of the week, something that actually takes talent, rather than "with flair".
on Sat, 10/31/2009 - 22:51
#116447
How about a Salvidor Dali of your anatomy with a clock hanging off it.
That should bring about fifty bucks..
Just kidding... make that a Buick..
on Sun, 11/01/2009 - 05:28
#116515
We work all our lives for little pieces of paper with trillions of duplicates.
on Sun, 11/01/2009 - 09:33
#116549
Very witty Wilde.
on Sat, 10/31/2009 - 22:29
#116434
Why would anyone pay for a share in any commercial REIT with at least 47 million duplicates?
on Sat, 10/31/2009 - 23:09
#116454
Don't eat the hors d'ouevres the servers are ZH'ers (pee in the bisque) sealed liquor only, watch them open it. Trust me.
on Sat, 10/31/2009 - 23:21
#116458
I think Sigmund Freud had a definition for this abnormality...... Could it be that your a voyeur...
Of some intensity?...
on Sat, 10/31/2009 - 23:18
#116456
Gunga. Gunga galunga.
on Sat, 10/31/2009 - 23:19
#116457
Flowing robes...striking.
on Sat, 10/31/2009 - 23:50
#116464
We can hope you are right about this.
on Sun, 11/01/2009 - 03:58
#116504
haiku for custer
andy knew the deal:
la ladies love lakotah.
still...dick fool'd chops wood
on Sun, 11/01/2009 - 00:38
#116486
lol Marla very nice. Wish I a fly on the wall at the preview parties :)
Surely there is such an ocean of funny money (electronically counterfeited by investment banks, physically counterfeited by the Fed) sloshing around the planet, the auctions could be pleasantly deluged with a tsunami of the stuff.
I would bid myself, but unfortunately I have to do actual work that produces actual useful things to earn a modest living, so naturally I'm in no position to compete with plutocratic con artists.
Good luck 2 u tho!
on Sun, 11/01/2009 - 00:47
#116489
Warhol was a real work of art. Purchasing his product is more an investment in the Warhol character aura (and it's presumed ability to endure), than buying a work indicative of a creative or technical ability.
on Sun, 11/01/2009 - 15:53
#116739
"an investment in the Warhol character aura (and it's presumed ability to endure), than buying a work indicative of a creative or technical ability."
hmmm, sounds suspiciously like a bubble to me.
"a house is an investment in the future. Housing prices will always go up."
on Sun, 11/01/2009 - 02:24
#116499
lol Marla very nice. Wish I a fly on the wall at the preview parties :)
Surely there is such an ocean of funny money (electronically counterfeited by investment banks, physically counterfeited by the Fed) sloshing around the planet, the auctions could be pleasantly deluged with a tsunami of the stuff.
I would bid myself, but unfortunately I have to do actual work that produces actual useful things to earn a modest living, so naturally I'm in no position to compete with plutocratic con artists.
Good luck 2 u tho!
on Sun, 11/01/2009 - 02:36
#116500
so where do I sign up to be an intern at ZH?
on Sun, 11/01/2009 - 03:04
#116503
There are some nice trolling opportunities here- when there are sets of 20 pieces, wait until some guy starts trying to buy up all 20. After he has bought the 5th one and it is clear that he wants all 20, start bidding on every single auction to piss him off and inflate the price.
PS- Lot 73 is the clear standout. A pair of Olitski brown paper shopping bags for only $500 is a steal.
on Sun, 11/01/2009 - 04:05
#116506
"The 300+ lots include significant works by Bernar Venet, Willie Cole, Arturo Herrera, Pouran Jinchi, Louis Lozowick, Roy Lichtenstein, Louis Bourgeouis, Terry Frost, Bernice Abott, Bernard Cathelin and Herbert Brandl. "
sounds like Lehman bought art with the same criteria they used when buying mortgages.
on Sun, 11/01/2009 - 04:19
#116509
I'll pay $15.00 for it (cash money)
Andy W is as overated as the debt Ichan has in CIT.
A photo of my asshole is worth more to me than anything that shithole artist could create in his most artistic dreams.
P.S. What is on his cheek? Is that a comma? It's a comma shaped blood blister. oooooooo how "creative"
on Sun, 11/01/2009 - 04:42
#116512
Page 235 of 258 is "John Lennon and Yoko Ono, The Dakota, NY, December 8, 1980" by Annie Leibovitz. 14 X 14 Dye Bleach print. $15,000 - $25,000.
on Sun, 11/01/2009 - 09:03
#116542
"significant works by Bernar Venet, Willie Cole, Arturo Herrera, Pouran Jinchi, Louis Lozowick, Roy Lichtenstein, Louis Bourgeouis"
Since this is art, that would be LouisE Bourgeois, one of the preeminent American sculptors of the 20th Century
http://en.wikipedia.org/wiki/Louise_Bourgeois
I think I've read that Warhol is one of the most copied (easiest) of modern artists.
Remember, even billionaires and auctioneers can be fooled......even unwillingly ;-)
on Sun, 11/01/2009 - 16:05
#116749
on Sun, 11/01/2009 - 22:35
#116987
uh oh, so the auction house misspelled both her names (changing her gender in the process.....very important, as she was a pioneer female in the male world of abstract sculpture), raising the question of whether they know what's what in other areas.....or who's who.
Could be analagous to taking Standard & Poors word for rating MBS tranches......caveat emptor.
on Sun, 11/01/2009 - 23:19
#117005
There are no $100 bills lying on city sidewalks.
on Sun, 11/01/2009 - 09:08
#116544
Off topic:
This may have been covered earlier.
27 page testamony on the dangers of dirivatives to Sen Banking Committee:
http://www.newdeal20.org/wp-content/uploads/2009/10/raj-revised-testimon...
on Sun, 11/01/2009 - 10:22
#116577
If he pays over $4000.00 fire him !
Set of 10 cowboys and indians 52,000
on Sun, 11/01/2009 - 13:01
#116664
appears as though bidders are privy to "record bonuses" as they are bidding 10x over est, highs, still waiting for them to reply to my unsolicited application to GS
on Sun, 11/01/2009 - 17:31
#116805
Andy Warhol is probably the most overrated artist of the 20th century...
on Sun, 11/01/2009 - 19:43
#116894
Marla - Perhaps you can give Tom Wolfe a call and invite him to accompany you to these auctions.
"Twenty years after The Bonfire of the Vanities, the author checks in on the new masters of the universe and finds them even coarser and ruder than their predecessors could have ever imagined being."
http://www.portfolio.com/executives/features/2007/04/16/The-Pirate-Pose/
In the 2007 article "The Pirate Pose", Wolfe delves into the art world and other pretensions of the Pirates of Wall Street.
Wolfe also wrote two books skewering the art world: "The Painted Word" and "From Bauhaus to Our House".
on Sun, 11/01/2009 - 21:50
#116966
Priceless MS
http://www.youtube.com/watch?v=Xzvqfv8cBuw&feature=player_embedded
Jeremiah Johnson (a blood brother of Sioux Lakota and Leonard Peltier)