Sunday, 20 April 2003
The last remnants of Enron's attempt to become a major player in the world of contemporary art are to be sold off in New York next month. Works as diverse as Claes Oldenburg's pop-art classic Soft Light Switches, a set of photographs of water towers by German artists Bernd and Hilla Becher and a recent painting by Britain's Bridget Riley will go under the hammer as Enron's managers try to recoup what they can from the collapsed energy giant.
The last remnants of Enron's attempt to become a major player in the world of contemporary art are to be sold off in New York next month. Works as diverse as Claes Oldenburg's pop-art classic Soft Light Switches, a set of photographs of water towers by German artists Bernd and Hilla Becher and a recent painting by Britain's Bridget Riley will go under the hammer as Enron's managers try to recoup what they can from the collapsed energy giant.
The art collection was the brainchild of Lea Fastow, wife of Enron's chief financial officer, Andrew Fastow, who is now facing charges for his role in creating the off-balance sheet vehicles that hastened Enron's demise. Mrs Fastow was given a $20m (£12.7m) budget and jetted from New York to Venice and London in search of art. By the time Enron toppled she had spent just $4m, though as much of this was on new commissions, less than $2m is expected to be recouped.
Auctioneers Phillips, de Pury & Luxembourg expect the Oldenburg to be the star of the show. "This is an icon of the pop-art era," said Aileen Agopian, a contemporary art expert at the auction house. "It is such a quintessential Oldenburg piece it could shake up the records."
Phillips actually sold the work to Enron for $574,500 in 2001. Ms Agopian hopes it will beat the record price for the artist, which stands at $691,500.
沒有留言:
張貼留言