{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Christie\u0026#39;s sale of photographs from the Refco collection' data-url='/boclips/videos/5c54c061d8eafeecae14a5a3' data-video-url='/boclips/videos/5c54c061d8eafeecae14a5a3' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nChristie\u0026#39;s sale of photographs from the Refco collection\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide exterior of Christie''s auction house in Manhattan2. Wide pan of auction room3. Medium of Christie''s seller on phone, raises hand to make bid4. Medium of Christie''s auctioneer at podium5. Close-up of auctioneer striking gavel6....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide exterior of Christie''s auction house in Manhattan\u003cbr/\u003e2. Wide pan of auction room\u003cbr/\u003e3. Medium of Christie''s seller on phone, raises hand to make bid\u003cbr/\u003e4. Medium of Christie''s auctioneer at podium\u003cbr/\u003e5. Close-up of auctioneer striking gavel\u003cbr/\u003e6. Medium of seller on phone, raising hand to make bid\u003cbr/\u003e7. Medium of people seated at auction\u003cbr/\u003e8. Pull out from Refco photo to auction room\u003cbr/\u003e9. Medium of screen showing Lot number and current bidding prices and conversions\u003cbr/\u003e10. Wide of people seated at auction\u003cbr/\u003e11. Medium of William Eggleston photo \"Memphis\"\u003cbr/\u003e12. Close-up \"Memphis\"\u003cbr/\u003e13. Medium of people looking at photos in Christie''s gallery\u003cbr/\u003e14. Wide of pan gallery with photos\u003cbr/\u003e15. SOUNDBITE: (English) Joshua Holdeman, International Director of Photography, Christie''s:\u003cbr/\u003e\"I would say that the circumstances which surround the situation in which Refco is currently involved really only helps the collection in that it makes more people aware of it. I mean, everyone who is in the art community knows the collection well, it''s one which has evolved over a long period of time, so I don''t think anyone would really care what the circumstances are for it being sold that already knows about the work. If the worst thing that could happen is that it makes, you know, a larger public aware, that could only help us, so there''s really no downside here.\"\u003cbr/\u003e16. Medium of man stood in front of photograph of a hooded female Ku Klux Klan member\u003cbr/\u003e17. Medium of gallery with Avedon photo of slaughterhouse worker in background\u003cbr/\u003eA world-class collection of contemporary art photography, remnants left by the collapse of commodities trading giant Refco, headed to Christie''s Auction House in New York on Tuesday to help pay off creditors. \u003cbr/\u003eThe collection was acquired over three decades by the wife of Refco''s founder, Thomas Dittmer. \u003cbr/\u003eThe photographs, roughly 500 in all, once graced the walls of Refco Incorporation''s offices in New York and Chicago.  \u003cbr/\u003eRecently a US Bankruptcy Court Judge authorised Christie''s auction house in New York to sell the works at an auction that could raise seven (m) million US dollars (5.6 million euros), by some estimates.\u003cbr/\u003eIt is estimated that Refco spent approximately 3.5 million US dollars (2.8 million euros) to acquire the works. \u003cbr/\u003eChristie''s will sell the works over three days - April 25, May 5, and May 10.\u003cbr/\u003eRefco entered Chapter 11 bankruptcy protection last year after its then-chief executive, Phillip Bennett, was indicted on fraud charges.\u003cbr/\u003eIn November, Bennett pleaded innocent to all eight counts, which stem from allegations he hid 430 million US dollars (346 million euros) in debt he owed the company. \u003cbr/\u003eRefco collapsed in the wake of the scandal, less than three months after its initial public stock offering. \u003cbr/\u003eAmong the photos are works from Richard Avedon, Cindy Sherman, Robert Mapplethorpe, Diane Arbus, Andreas Gursky and Charles Ray.\u003cbr/\u003eDeveloping and caring for the collection was said to be a labour of love for Frances Dittmer, who was married for a time to Refco founder Thomas Dittmer.\u003cbr/\u003eAlthough reportedly her aim in building the collection was so that the employees enjoyed a \"better quality of existence in the workplace,\" but that goal didn''t exclude works that weren''t exactly crowd-pleasers.\u003cbr/\u003eFor example, the Carrie Mae Weems'' 1995 photo \"House/Field/Yard/Kitchen\" is a commentary on slavery and prejudice in America.\u003cbr/\u003eThe photographs are expected to bring in a high return for Refco, its creditors, and Christie''s, but the amount which could be raised in an auction seems tiny next to the sums involved in the bankruptcy.\u003cbr/\u003eRefco, which went public in August 2005, filed for bankruptcy on October 17, a week after it announced that a 430 million US dollar (346 million euros) debt to the company owed by a secret firm controlled by the ousted chairman and CEO had been concealed.\u003cbr/\u003ePhillip R. Bennett, the former chief executive of Refco Incorporation, one of the world''s biggest commodities brokerages, pleaded innocent to charges in an alleged conspiracy that caused the company to sell 583 million US dollars (469 million euros) in stock to the public based on false financial statements.\u003cbr/\u003eThe indictment said that since the late 1990s, Bennett and others concealed losses in the financial markets by causing Refco to make false and fraudulent filings with the Securities and Exchange Commission.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv 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