Thousands of items that once belonged to U.S. pop music svengali Lou Pearlman are to be auctioned off in Florida today (12Jun07) as officials attempt to liquidate his remaining assets. Pearlman, the man behind boy bands 'N Sync and Backstreet Boys, reportedly disappeared after a business venture failed, leaving him owing millions to investors and banks at the beginning of 2007.The items going under the hammer include office and recording studio equipment, gold and platinum records and even a key to the city of Orlando that was bestowed on Pearlman. The auction will be held at Church Street Station in Orlando and at two warehouses that Pearlman once owned in the city. Pearlman was the first manager to really sell the all singing all dancing five piece boy bands of the early 1990's after seeing New Kids On The Block who were one of the most popular acts in the world.Pearlman realised that big money was to be made from these bands aimed primarily at teenage girls. She set up Trans Continental Records and signed up the Backstreet Boys.The group went on to become one of the most successful groups selling 65 million records worldwide.

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