Saturday's auction grossed $280,000

Soneet Kapila reports that the auction of Lou Pearlman's personal effects grossed $280,000 before expenses. While that's just a drop in the bucket compared to $314-million, it has to be considered a good result. The previous auction of Trans Continental items brought $220,000 after expenses. The money will help finance the hunt for Lou's assets.

The most expensive item sold was the Cadillac Escalade golf cart, which went for $10,340, including the buyer's premium. Some other interesting sales: Anakin Skywalker statue, $1,100; Baldwin baby grand piano, $3,850; Bushmaster AR 15 gun, $1,430. Every single item sold. As has been mentioned in comments here, the AV equipment brought unexpectedly good prices and even Lou's clothes sold well considering their limited resale potential.

Kapila says there were 300 registered bidders, with 178 bidders online from around the world. About 400 people attended.  The auction went on for more than nine hours.

Here are some great photos from the Radaronline site. Lou was well armed.

Comments

helen please request an inventory of remaining assets to be sold

[toothy]

I called it months a go he had guns on this blog.

Real men pack heat.

[helium head]

helen,
thanks for the info on the capital generated from the auction. i did make it down from north carolina, but left empty handed. however, it was very interesting to see all the things lou had gain over the years, unfortunately at the expense of others monies. anyone here reading this, that i may have spoken to at the auction, thanks for your friendliness and conversations, especially when it was so very warm in that building. what i didn't gain in material possession, i did gain in knowledge, from the folks i had spoken with, looking through lou's photos, and everything else. hopefully this will aid in finding the real money/assets, and everyone that lost so much will benefit in some way in the end.
helen, thanks again, and continue the great work! Cheers and best wishes to all!
helium red head

Dill- that's whatI fear. Not that I don't want the people working on this mess to be fairly paid-- but I wonder who decides what is fair- Will the court allow a "blank check" as long as they find that much to draw from?

[Dill]

And you'd better believe the lawyers are going to get theirs first. not one penny will go out to people who were actually ripped off before the lawyers get their money. (read as: if you were ripped off you aren't going to see a dime).

[Helen Huntley]

They are counting on finding assets to cover their fees and expenses. If they don't find enough money, they won't get paid.

Hi Helen,

If there is no money in a bankrupt estate, how do the attys, accountants, etc. get paid?
thanks.