Tavern on the Green auction entertains - 14/01/2010

The auction of all contents at the defunct restaurant Tavern on the Green is causing quite a stir in New York.

Since its opening in 1934, the Central Park restaurant had gained notoriety for entertaining society's elite, but its recent fall from grace has seen administrators called in. Everything inside the building has been put up for auction.

Some of the bargains achieved are likely to surprise even the most seasoned of auction attendees.

Perhaps the most dazzling was the sale of a Regency-style Osler chandelier with cut ruby overlay glass. The piece was appraised by Sotheby's in 2007 and valued at $275,000, but snapped up by one astute bidder for just $26,000.

Many people present at Guernsey's auction house were there to purchase a piece of history, such was the public's regard for the establishment.

Ricky Shechtel, present at the auction, told Bloomberg: "We came here to see the lights. We came here for Mother's Day. We came here to use the bathrooms. I thought it would be fun to get a piece of history."

The auction continues tomorrow (15.01.10).