Monday, November 21, 2022

Breaking a Jacket

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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.

 

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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.”

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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 19th century British merchant banking.”

 

The auction will go live on Friday 30th June on the John Pye Luxury Assets auction website and will end at 12 noon on Thursday 6th 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).

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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).

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