Heller Ehrman Sells Art To Pay Creditors: See What's For Sale

When top-ranked firm and “Bay Area institution” Heller Ehrman voted to dissolve in September 2008 — and then filed for bankruptcy in December — its hallways contained a lot of art.

And now that art is being auctioned to help pay down down its debt.  

A small fraction of their collection will go be auctioned as part of Bonhams New York’s Contemporary Art Sale on November 10; more than 400 pieces will be included in a February auction at Bonhams San Francisco, a representative for the auction house said.

Click here to see the November pieces >

Law firm art collections are quite often pretty impressive.  In our strolls through various firm hallways we’ve seen works by Roy Lichtenstein, Joan Miro and photographer Edward Weston — and that was all at Cleary Gottlieb.  

And though Heller will not make enough to cover it’s reported $100 million-plus debt, it’s hoping the sale will bring in $1 million, the chair of Heller Ehrman’s dissolution committee told Law.com.

The San Francisco sale will include high-dollar pieces by artists such as Lichtenstein, Richard Serra and Richard Diebenkorn.  The smaller November round, however, is expected to appeal to specifically to contemporary collectors.  

Martin Gammon, director of business development for Bonhams, called the collection “very well selected and well curated material.”  So if you’re in the market, here’s your opportunity to upgrade your collection, with the added bonus of kicking some cash to Heller’s creditors.

See the Heller Ehrman art you can buy in November, and how much it will cost you. >

Artist: Julie Speidel
Estimate: $2,000-$4,000

Artist: Suzanne Caporeal
Estimate: $2,500-$3,500

Artist: Marcel Dzama
Estimate: $4,000-$6,000

Artist: Andrew Spence
Estimate: $1,500-$2,000

Artist: John Monks
Estimate: $2,000-$3,000

Artist: Robert Kelly
Estimate: $2,500-$3,500

Artist: Robert Kelly
Estimate: $2,500-$3,500

Artist: Robert Kelly
Estimate: $2,500-$3,500

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