Another poor investment

ANGLO Irish Bank had a talent for investment that went south, and its art collection will almost certainly bring in less than it cost to purchase in the first instance.

The fire sale of the former bank’s art collection at James Adam’s in Dublin on Tuesday should raise around €150,000.

The collection is a mixed bag. Managers were allowed to buy occasional pieces for local branches, but there is plenty to suggest that artistic discrimination came into play, as it was assembled over a number of years.