'Penthouse' founder's furniture on auctionRED HOOK, N.Y. -- The contents from Robert Guccione's old summer getaway are about to be put on the auction block.
Some 400 items owned by the Penthouse magazine founder, ranging from a hand-carved 16th-century Italian canopy bed to a 17th-century hand-carved Flemish cabinet, are to be auctioned Sept. 4. Guccione lost the 16-room mansion in Staatsburg 80 miles north of New York City after defaulting on a $14.5 million loan in February. Kennedy Funding of New Hackensack, N.J., then acquired the 55-acre estate in Dutchess County when Guccione declared bankruptcy. Auctioneer George Cole said Guccione has no room for the belongings from his summer home in his New York City town house. Items at the auction, Cole said recently, are expected to fetch prices from as high as $50,000 to less than $25.
Based in Red Hook, N.Y., George Cole Auctioneers outbid internationally known Christie's and ------ On the Net:
http://www.georgecoleauctions.com/ © Copyright 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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