Salander bankruptcy auction set for June 23
MILLBROOK â€” Art dealer Larry Salanderâ€™s weekend country estate household goods will be auctioned Wednesday, June 23, at 482 Deep Hollow Road in Lithgow at 11 a.m.
Items are available for inspection starting at 10 a.m. on the same date. The sale is being held as part of the three-year-old personal-bankruptcy proceedings against the art dealer who will appear in New York City court on the same day. Salander pled guilty to a $120 million art fraud in March and will be reporting to the judge on how efforts to recoup money for creditors are going. The progress heâ€™s making on restitution to his victims will help determine the length of his prison sentence, to be set by the judge later this summer. The maximum penalty is 18 years.
At the auction, bidders can consider everything from a 2000 BMW convertible to playground equipment, a bronze Buddha, and, of course, paintings. The sale of the 232 lots with no reserve prices or buyersâ€™ premium is expected to last about four hours at the normal clip of an item a minute. The auction is being conducted rain or shine by Caspert Auctioneers of Clifton, N.J. It is not an absolute auction because the trustees in bankruptcy must approve all bids after the auction, but there should be some bargains. Salanderâ€™s 66-acre estate is not included in the sale and is still listed at $4.5 million by the real estate agency, Houlihan and Lawrence.