So what happens when your net worth plummets by half a billion dollars while being at the helm of one of the biggest collapse in financial market history? You sell your multi-million dollar art collection and hope that you raise enough scratch to maintain your housekeeping staff (cause even a simple multi-millionaire shouldn't have to clean his own toilet). Dick and Kathy Fuld will be auctioning off their prized art collection at Christie's modern art sale on November 12, which includes works by Arshile Gorky and Willem de Kooning. The total collection up for sale is estimated to bring in $15-$20 million and the Fulds have negotiated a guarantee in which they'll receive money regardless of whether the artwork sells or not.
via wsj.com
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