New York art adviser accused of running a ponzi scheme will have her collection auctioned off

It’s an auction that no one wants to see happen. The private collection of an alleged art world scammer, who long boasted about her connection to Leonardo DiCaprio, is going on sale next month in NYC to pay off some of her substantial debt. Lisa Schiff, 54, was, for more than a decade, a darling of the city’s art scene.She obtained multimillion- dollar paintings for boldfacers like the Oscar-winning actor along with Manhattan society figures such as real estate heiress Candace Barasch, private equity executive Thomas Hagerty, art world executive Adam Sheffer — “Lisa’s bestie,” an affluent source told The Post — and his spouse Richard Grossman Now, Schiff’s collection is being liquidated, following a declaration of bankruptcy, with the hopes of paying off former clients who turned into close friends.Some 200 works — Schiff’s collection includes pieces by marquee names such as Damien Hirst, Dennis Hopper, David Israel, Judy Chicago and Richard Prince — will hit the block at Phillips auction house on Park Avenue in November.

They’re expected to fetch $2 million altogether.An art world insider expressed concern that the circumstances behind the sale will hobble prices. “People don’t find it exciting to buy art that is caught up in scandal unless it’s a good opportunity,” the insider told The Post.“It’s one thing if that opportunity is a discreet private sale instead of a Phillips auction.”But the sale may attract bargain hunters or long term investors, as per the insiders. “If there’s good stuff in there, it’ll sell.

I don’t think you’ll get bigger numbers.If anything you’ll get lower numbers because of the cloud over everything,” the insider said. A Phillips spokesperson said “the company sets estimates that are reflective of the quality and rarity of the artworks, also taking into account recent comparable prices.” According to a civil complaint, filed with the Supreme Court of the State of New York in...