Art treasures of the failed bank Lehman Brothers auctioned off in NYC

Lehman Brothers art auctioned off in NYC

NEW YORK — Lehman Brothers may have blundered its way to disaster on Wall Street, but at least the bank’s art curators knew what they were doing.

Sotheby’s says an auction of contemporary artworks held by the failed investment firm and its former subsidiary, Neuberger Berman, brought in nearly $12.3 million Saturday.

The auction house said many of the works sold for far more than what Lehman and Neuberger paid. Profits will help pay the bank’s many creditors.

Online:

www.sothebys.com