Fuld's estate in Sun Valley sets record at auction

Los Angeles

A SUN Valley, Idaho, estate owned by Richard "Dick" Fuld, the former CEO of Lehman Brothers, sold for at least US$20 million - a record for a US home offered at an auction.

Six bidders competed for Big Wood River Estate, a 29-hectare spread near the Sun Valley ski resort and bordered by a trout fishing stream, according to a statement on Thursday from Concierge Auctions, which ran the sale. Potential buyers were each required to deposit US$500,000 to participate. The winner was from the Pacific Northwest, a Concierge spokeswoman said.