Lou Reed's Estate Earns $20 Million Since His Death

Since his passing late last year, Lou Reed's estate has pulled in $20 million through copyright and publishing interests. The Velvet Underground's manager Robert Gotterer reported the earnings to Manhattan Surrogate's Court last week.

Gotterer was appointed by Reed to oversee his estate after his death. Reed's lawyer, James Purdy, says that the executors of his estate will submit a full inventory of assets by January 2015.

Earlier this month, it was announced that in an effort to raise funds for the ongoing Lou Reed Archive project, Sister Ray Enterprises will some of Reed's gear on eBay.

Items such as road cases, keyboards, power supplies and other electric units that Reed used on tour are being offered up to the public.

Most of the more coveted pieces like guitars, amps and pedals are not hitting the auction block at this time and will be kept in the vault.

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