Corporate Art Selloff?
Recent headlines highlighted the auction of the valuable art that once graced the halls of former investment banking titan Lehman Brothers.
Now a recent article in the Associated Press asks whether the continued downturn in the economy will lead to other -- solvent -- corporations to divest themselves of their art assets.
Of course many corporations purchase art for a variety of reasons: as the article points out, some companies purchase art for the apparent purpose of helping young artists, some companies for the purpose of cheering up their employees, and some companies to create a public image that may whitewash an otherwise troubled reputation.
Whetever the reason for purchasing the art, as no less an authority than Judd Tully points out, a major sell-off is unlikely because corporations don't want the public to think they are heading the way of Lehman.
