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Highlights from the Lehman Auction

Once considered to be among the most distinguished corporate art collections in the world, the works owned by Lehman Brothers — which in a 2003 merger added the collection from Neuberger Berman — is also tied to one of the most infamous bankruptcies of all time.

The collection will be auctioned on Sept. 25, 2010 by Sotheby’s,which has been appointed for the sale by Alvarez & Marsal LLC, the firm overseeing the restructuring of Lehman Brothers. The sale includes over 400 works valued at over $10 million, representing Lehman and Neuberger Berman’s long-established practice of collecting fine art.

Among the pieces to be auctioned are early works by many of the leading artists from the late 20th and early 21st centuries, including artists like Damien Hirst, Gerhard Richter and Neo Rauch.

Click ahead for some of the most notable — and most expensive — works up for auction in the 2010 Lehman auction.

Posted 23 Sept 2010

Photo: Getty Images