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James Brown Auction

James BrownThe James Brown auction took place of the more than 300 lots netted just over $657,688 -much less than the $1 million to $2 million expected.  Two Godfather's caper was among the auction top three lots:  a full length embroidered one when for $47,500 and was bought by an unidentified institution.  David Letterrman's bandleader Paul Shaffer purchased a blue cape, embroidered with "The Name Is Godfather of Soul," for $35,000.  Even James Brown's medical bracelet which warned that he was diabetic and allergic to penicillin was sold for $32,500, much more than it's estimated worth of $200 to $300.  A red leather furniture set sold for $40,000 or 20 times it's estimated value.  The auction took place against the wishes of several of Brown's children, and followed months of legal drama involving the children, as well as ex-wives, and girlfriends.  Court-appointed trustees for this estate, variously reported to be worth between $100 million and $200 million, filed lawsuit in South Carolina earlier this year against Brown's business managers, former estate manager, a law firm and the investment bank Morgan Stanley, claming fraud had been conspired against the singer and accused the bank of not preventing fraud by the managers.  Another court hearing in South Carolina is slated for next month.  James Brown's Grammy Award for "Living in America" was withdrawn form the auction without explanation.  Additionally it was a few other items that were donated to Chris Webber by Yhamma Brown for his foundation auction and it went for $25,000 at the gala.  The Brown daughters were in for a rude awakening when their father's times came in much lower then they had anticipated.

 

 


 
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