Monday, December 15, 2008

"It was not clear what became of the art"

The Art Market Monitor notices an art connection in the collapse of Dreier LLP. From the New York Times on Saturday:

"The law offices themselves ... were like modern art galleries. In court papers filed this week, the comptroller for the law firm reported that $30 million to $40 million of the firm’s assets had been spent on art. Among Mr. Dreier’s holdings were works by Picasso and a Warhol depiction of Jacqueline Kennedy Onassis. In recent days, someone not affiliated with the firm removed several pieces of artwork from the walls and carted them away, a person at the firm said."

More here from Artnet News (second item).