Hundreds of paintings and sculptures collected by failed banker Dirk Scheringa may not be sold as a single lot to a private collector, a court in Amsterdam ruled on Thursday.
Deutsche Bank has planned to sell the modern art collection, which includes works by Charley Toorop and Carel Willink, to a single person for €14m.
However, the court ruled this may not be the best price for the collection. Auction houses Christie’s and Sotheby’s have both given different valuations and the price is unclear, the court said.
The collection was seized by ABN Amro when Scheringa’s DSB bank went bankrupt in November 2009. The collection had been used to guarantee a €32m loan to pay for a museum which would eventually house the 1,000 or so pieces. It was then passed on to Deutsche Bank.
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