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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, September 25, 2012

Items From Brooke Astor Estate Go For High Prices at Southeby Auction

ImagesCAXCEPNXAs I have previously discussed, the estate of Brooke Astor began its auction of the estate's property. Before Brooke Astor died in 2007 at age 105, she owned a bronze figure of a six-headed Tibetan deity. Southeby's expected to sell that bronze figure for $2,500 to $3,500, but it ended up selling the figure for $134,500 yesterday. Astor's grandson was going to bid on it, until the bidding went through the roof. Similar to the bronze figure, items that seemed like bargains before the sale rose quickly in price as the auction progressed.

Proceeds from the auction of this figure and other items from Astor's former Park Avenue duplex and Westchester mansion will go to the socialite's favorite charities.  Among her favorites were the Metropolitan Museum of Art, the Animal Medical Center, the New York Public Library, and New York schools.

See Katya Kazakina, Astor Prices Soar on First Day, $200 Box Fetches $21,250, Bloomberg News, Sept. 25, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.  

http://lawprofessors.typepad.com/trusts_estates_prof/2012/09/items-from-brooke-astor-estate-go-for-high-prices-at-southeby-auction.html

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