Chris Johanson, "Forever is Both Ways for All Time", est. $300-$500, via Freeman's

Harvey Quayman "Untitled," est. $700-$1000, via Freeman's

Sam Halpert's 1928 "Geranium," est. $700-$900, via Freeman's

Perle Fine "New City" est. $2,500-$4,000, via Freeman's

Currier and Ives "The Great East River Suspension Bridge", est. $2000-$3000, via Freeman's

Liquidation of Lehman Brother’s art collection continues with a Feb. 12 sale at Philadelphia’s Freeman’s, including mostly works on paper sold without reserve. The 374 lots are expected to fetch about $160,000 to $250,000. The sale can be previewed here.

Offerings range from James John Audubon prints of hooping cranes and chestnut colored finches, (13 prints estimated $600-$900) to contemporary editions by Michael Mazur, Pat Steir, Robert Natkin, James Nares and Joanne Greenbaum, all estimated under $1000.

This is the third Freeman’s sale of Lehman material, following the financial firm’s 2008 bankruptcy. A Nov. 1 auction of modern and contemporary and a Dec. 6 sale of American and European painting and sculpture grossed $1.6 million.

The works come from Lehman’s Boston, New York and Delaware offices.

The sale is organized chronologically, beginning with 19th century engravings dominated by nautical themes and birds. The modern and contemporary section includes a Sam Halpert watercolor “Geranium” (est. $700-$900) and Harvey Quaytman’s 1976 “Untitled” orange and black mixed media drawing, tagged $700-$1000. A 1941 pink abstract Perle Fine gouache on paper is estimated $2,500-$4,500, and Elaine Lustig Cohen’s geometric 1979 “Untitled,” a gouache and graphite with overlapping rectangles in red, black and tan, is just $200-$300.

Works come from a range of dealers including Alexander F. Milliken Gallery, Pace Prints, M. Sachs Gallery, Fischbach Gallery, Brooke Alexander Editions, Tibor De Nagy, Zabriskie and Barbara Gladstone. Most works come professionally framed.