DALLAS (May 22, 2013)--A chandelier by glass artist Dale Chihuly that once belonged to former Central Texas tycoon R. Allen Stanford was sold at auction Wednesday for $158,500.
The money will help compensate victims of Stanford’s Ponzi scheme.
The 7-foot tall, 6-foot wide chandelier of cascading blue glass was sold Wednesday by Dallas-based Heritage Auctions and was expected to fetch more than $60,000.
Stanford was convicted last year on 13 fraud-related counts and sentenced to 110 years in prison.
The chandelier was offered through the federal court-appointed receivership overseeing the sale of assets previously owned by Stanford.
A 42-foot-long sculpture by Terence Main called "Terrestrial Tale," was also put on auction, but did not sell.
Stanford's assets have been sold at several auctions over the last few years.
Stanford is a Mexia native, Baylor University graduate and one-time Waco businessman.