Ex-Lehman president Gregory puts antiques on auction block
NEW YORK (REUTERS) - Former Lehman Brothers president Joseph Gregory, who often commuted by helicopter to work before his bank went bust, is auctioning off a collection of centuries old furniture and artwork from his Long Island mansion which sold in June.
Auction house Sotheby's said on Tuesday that"important English furniture from some of the most notable cabinet makers, along with European porcelain and decorations" would be auctioned next month in a sale devoted to the collection of Gregory and his wife, Niki.
Among the items listed for auction are two commodes - chests of drawers - made in the 1700s, estimated to be worth up to US$120,000 (S$151,000) and US$400,000, and a painting by the Dutch artist Bartholomeus Assteyn titled "A Still Life of Grapes, Cherries, Peaches and Other Fruit in a Basket, with a Rose and a Dragonfly on a Stone Ledge," listed for US$60,000 to US$80,000.
Before Lehman collapsed five years ago, Mr Gregory boasted he had a personal spending budget of more than US$15 million a year, Ms Vicky Ward wrote in "The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers," a book about how key personalities at the firm led it to ruin.