Imprisoned swindler’s art can be yours at auction

One of Damien Hirst's Cathedral prints. Not shown, three in the series are headed to auction. (Image via Barbara Mathes Gallery.)

The U.S. Marshals Service is auctioning online 55 works of art by the likes of Andy Warhol, Jim Dine, Ken Noland and other notables that were the property of Marc Dreier.

Estimated to fetch as much as $48,800 each, the contemporary art goes on the block Nov. 16-30.  The firm of Gaston & Sheehan Auctioneers is conducting the sale.

Dreier currently is serving a 20-year sentence in a federal prison after his conviction of conducting a hedge fund swindle.

Dreier pleaded guilty more than two years ago to bilking hedge fund investors out of $700 million by claiming he was authorized to sell promissory notes issued by Manhattan real estate developer Sheldon Solow.

Pictured in the auction catalog are prints, art glass, silkscreens, paintings, linoleum cuts, lithographs and reproduction photos.  Two of three glass pieces by Dale Chihuly are estimated to bring $25,000-37,500 (with the third at $10,000-15,000).

Other estimates are $4,500-6,800 for several Nolan prints, $3,800-5,600 for five color linocuts on paper by Sol Lewitt, $20,000-30,000 for each of three silkscreen prints by Damien Hirst and $32,500-48,800 for an acrylic painting by Egyptian artist Ghada Amer.

The terms mention neither a buyer premium nor reserve price, though the Marshals Service has the right to reject any bid, make a counter-offer and accept back-up offers.

The items can be seen Nov. 15 from 9 1 p.m. in Building 25 (the Perry Building) of the Brooklyn Navy Yard.

Tomorrow: New city auction, plus Out and About on Tuesday

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201
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