The collapse of finance behemoth Lehman Brothers has sent the Wall Street teetering on the edge of its seat. Lehman has been a staple in American markets since 1850 so it is no surprise why its failure was a big deal for investors. But stocks may not be the only Lehman assets who fates are uncertain. I would bet that not a lot of folks know about the company's huge artwork collection, which numbers to 3500 across all of its global offices. Among some of the works in Lehman offices, according to BBC news, were made by artists like Takashi Murakami, Andreas Gursky, and Jasper Johns. Their works are now possibly on its way to the market, along with others such as those in Neuberger Berman, a company Lehman Bros. bought in 2003. These collections would most like be placed under auctions. Folks like art adviser Judith Selkowitz said that the company should not be brash with their sales activities and advised that everything should be "orderly." In general, the BBC article noted that the practice of buying art by hug private companies has been waning in previous years. The article did not specify a specific cause, but it could be a fair assumption that financial crunches are factors in the decline of art patronization.
ORIGINAL ARTICLE: http://www.bloomberg.com/apps/news?pid=20601088&sid=a4BqiycH4C_s&refer=muse
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