4 Oct 2010

Lehman artwork auction fetches millions

7:32 am on 4 October 2010

Artwork and memorabilia from collapsed investment bank, Lehman Brothers, have fetched £1.6 million at auction.

The firm's administrator, PricewaterhouseCoopers, ordered the sale at Christie's in London to raise funds for the bank's creditors, the BBC reports.

Gary Hume's Madonna sold for more than £73,000 pounds, and a sign which adorned the bank's offices in Canary Wharf sold for £42,000.

A work by Mexican artist, Gabriel Orozco, made more than £99,000.

The auction came days after the second anniversary of the bankruptcy which was the biggest in US corporate history.