Lou Pearlman's Boy Toys Auctioned

Oct. 27 2008, Published 7:07 a.m. ET

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NEW BIDS ON THE BLOCK Pearlman framed art (Photo: Wheat Wurtzburger)

Jailed boy band Svengali Lou Pearlman didn't just know what teens like. As an auction of his geek-tastic collectibles, cosmic art, and personal possessions Saturday clearly indicated, he lived like a kid, too—save for one difference: His guns fired real bullets.

Now accused of defrauding investors and banks of about $500 million, the man who created *NSYNC, O-Town, and the Backstreet Boys is bankrupt. To try and pay back some of his debts, a bankruptcy trustee sold his seized platinum records, trophies, awards, and more from his downtown Orlando office on June 12, netting a mere $225,000. On Saturday, though, his personal possessions were on the block and expected to pull in a larger bounty. Dozens of floral patterned shirt-wearing, ball cap-sporting Sunshine Staters lined up for the bidding. And although revenue totals weren't immediately available, they paid top dollar for spacey, cosmic prints, pics of Lou with his boys and other muckety mucks, an actual size R2D2, Anakin Skywalker and Han Solo, a Cadillac Escalade-style golf cart, and eBay-able knickknacks. The scene made Bobby and Whitney's auction look like a small-town garage sale. Then there were the weapons—handguns, an assault rifle with ruby scope, even an Uzi (the Joey Fatone of automatic weapons).