Tuesday, November 3, 2009

Lehman's at Freeman's: Wall Street's Loss is an Art Collector's Gain...at least rich art collectors.

I got back from Philly late last night. My weekend consisted of the following: handing out Halloween candy to a revolving door of trick-or-treating Ryan Howards and Chase Utleys, fulfilling my maid of honor duties at my sister's Eagles-themed engagement party by making Eagles goodie bags and entertaining all guests under the age of 7 (picture above for proof--how cute are they!), and opposing all things New York, namely the Giants, Yankees, and liquidated investment banks' art collections.

I tagged along on Saturday with my art collector dad and his artworld friend to check out an auction preview at Freeman's Auction House in Philly, where the impressive art collection left in the Lehman Brother's wake was being auctioned off like sad abandoned puppies begging for a home. It was a fantastically gluttonous display of work in a range of media by everyone from the unknowns to the masters. My first question was why in the world would this collection be auctioned off by Philadelphia's Freeman's instead of a flashy New York auction house--it's about time. The auction, which began at noon on Sunday and lasted well into the night, was expected to earn $750,000....1.34 million dollars later, every artwork had found a new home. Art just costs too much money. Not fair for aspiring art collectors like me.

Read this for more info on the auction that squashed my dreams of becoming an art collector.

PS. How cute are the old people in their Phillies hats in the picture to the left? The one sleeping is my Grammy. Go Phils!

2 comments:

  1. glad you had an enjoyable trip home! i didn't know you were a budding collector! did you know that some galleries have started registries to help young collectors start their collections? (i came across one that was gearing this service towards couples getting married to register for art as wedding presents). regarding the lehman collection, it's interesting that they made so much more money than they anticipated - why are folks always underestimating the arts? ')

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  2. there are a ton of great resources for young collectors in chicago you should check out. and hitting up the small gallery scene is an excellent way to pick up art on the cheap by amazing up and comers. HPAC does an event every year called Just Good Art that is geared specifically towards people looking to become collectors with great pieces by known artists for relatively low cost. Look around. You can find great deals!

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