According to Lou Reed's Facebook page, a bunch of the deceased rock legend's sizeable music gear collection is being auctioned on eBay, to fund a full-fledged Lou Reed Archive. We're promised "a wide variety" of bits to be added to the listing "every few days." This is great news for Lou Reed fanatics, braggarts, and anyone who needs a bit of music history to spice up their dubstep project's press release ("These ball-honking basslines were written on a MIDI controller owned by Lou Reed. His ghost stood at the foot of my bed and told me I was cool.")
The post assures that each item being auctioned was actually used by Lou Reed and his bandmates, and not Loo Reid, the notorious Lou Reed imposter. Some stuff will be "listed for local pickup" in New York first, and interested parties can join a newsletter for info.