More than 200 pieces from the art collection of failed banking giant Lehman Brothers are going on the auction block in Philadelphia.

Modern and contemporary art that once lined the corridors and board rooms of Lehman Brothers offices in New York, Boston and Wilmington, Del., will go up for bid Sunday at Freeman's auction house.

Freeman's vice president Anne Henry says the collection is valued at $500,000 to $750,000.

There is no reserve on most of the art, except for about a dozen pieces estimated at $10,000 or more.

Lehman collapsed in September 2008 under $600 billion in debt as part of the worst U.S. financial crisis since the Great Depression.