Did Sir David gamble away his millions?
AN AUCTION of the late socialite and entrepreneur Sir David Tang’s prized possessions has thrown up as many questions as the large sums of money it hopes to raise.
The whisper in high society is that the most generous host London has ever seen – a man who lived an extraordinarily extravagant life – died broke.
Questions were raised when Sir David’s widow Lucy put 74 lots of his possessions up for sale at auction house Christie’s.
Some of the treasures have been given a reserve price as low as £500.
Lady Tang is now believed to be living with her mother as the couple’s London house is no longer available to her. In a nod to the rumours circulating about Sir David, she tweeted two weeks ago: ‘Don’t look back.’
But friends of the couple are dismayed that Sir David’s gambling debts and massive borrowing may have left almost nothing behind for the woman who looked after him with incredible devotion as he endured months of gruelling treatment before his death from liver cancer, aged 63, in August.
Some of those famous friends are expected to attend the auction on January 31, including philanthropist Dame Vivien Duffield, artist Tracey Emin and the Earl of Snowdon, who have all sung Sir David’s praises in the auction brochure.
The sale of paintings, clothes, watches, suitcases and antique furniture is aiming to raise at least £150,000. But that is a fraction of the fortune that Sir David was widely believed to have amassed from his Cuban cigar franchise and restaurants, including China Tang at the Dorchester.
The Rules For Modern Life author – who made no secret of his big-money gambling – had said that he would like to be remembered by the Hilaire Belloc quote: ‘When I am dead, I hope it may be said: His sins were scarlet, but his books were read.’