No Picassos will adorn Bernie Madoff’s prison cell walls.
And high-end collectors eager to get ahold of the $17 billion Ponzi schemer’s art — out of spite or otherwise — can bid on his 61 piece collection at auctions at Sotheby’s in Manhattan and Stair Galleries in Hudson, New York, Bloomberg reports.
But though the collection is extensive, not every art appraiser is impressed.
“It’s a fairly lackluster group,” art appraiser Victor Wiener told Bloomberg. “If you think about the amount of money this man had, he could have been buying fabulous paintings.”
The highlights include a 1947 Picasso lithograph depicting a black bull, a set of six 1973 bull lithographs by Roy Lichtenstein and a small 1952 Matisse crayon drawing of a woman’s head.
While there also are important postwar artists — Andy Warhol, Jasper Johns, Frank Stella, Brice Marden, Cy Twombly, Ellsworth Kelly — most are represented by works on paper that are part of large editions.
For years trustees have been liquidating Madoff’s toys — like yachts and sports cars — to benefit his victims.
The items, formerly festooned in Madoff’s Manhattan and Queens offices, have an insured value of more than $575,000.
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