Breaking a Jacket

June 28, 2017

Section:

Barings jacket signed by rogue trader Nick Leeson to be auctioned; the original supposedly sold for £21,000 in 2007

An auction of a bright yellow and black trading jacket signed by Nick Leeson – the trader who famously broke Barings Bank in 1995 – is to go live this Friday.

Offered with an estimate of £200 to £300 ($257 to $385, €226 to €340 or درهم943 to درهم1,400), the replica jacket is captioned ‘Baring Futures’ and signed: “The Original Rogue Trader: Nick Leeson.”

Leeson’s activities cost Barings, which had been established in 1762, £827 million ($1.3 billion, €937 million or درهم3.9 billion) and left N. M. Rothschild & Sons as “the only name remaining from the glory days of 19^th century British merchant banking.”

The auction will go live on Friday 30^th June on the John Pye Luxury Assets auction website and will end at 12 noon on Thursday 6^th July. Leeson’s original jacket reportedly sold for £21,000 in 2007 (the equivalent of £26,700, $34,300, €30,200 or درهم125,800 today).

Breaking a Jacket – Baring jacket signed by Nick Leeson to be sold – Barings jacket signed by rogue trader Nick Leeson to be auctioned; the original sold for £21,000 in 2007 by John Pye Luxury Assets in July 2017. Estimate: £200 to £300 ($257 to $385, €226 to €340 or درهم943 to درهم1,400). Breaking a Jacket – Baring jacket signed by Nick Leeson to be sold – Barings jacket signed by rogue trader Nick Leeson to be auctioned; the original sold for £21,000 in 2007 by John Pye Luxury Assets in July 2017. Estimate: £200 to £300 ($257 to $385, €226 to €340 or درهم943 to درهم1,400).