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The worthless but historic first share issued by collapsed investment bank Lehman Brothers has sold in an auction in Germany for $33,000.
Auctioneer Mr Michael Schmitt said the share, issued by the bank when it went public in 1994, used to hang in the office of Lehman Brothers’ then chief executive Mr Richard Fuld, for whom it was issued.
Mr Schmitt said the buyer, who wanted to remain anonymous, purchased it for its historic value.
Lehman collapsed in 2008 in what is widely seen as a key trigger of the financial crisis.
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