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The cause was complications of Lewy body disease, a neurodegenerative condition, his family said.
Mr. Nicholson, a spark plug of a man who was the son of a factory worker in Sherman, Tex., began collecting early American artifacts in the early 1980s, flush from his recent success in high finance. His blunt, hard-driving style unnerved some buyers steeped in Old World collector traditions of propriety, art scholarship and, above all, privacy.
“For one thing, he would sit there with an auction paddle, which was unusual,” said John Hays, the deputy chairman of Christie’s America, who became a friend. Important buyers usually sent surrogates or bid by phone, he explained.
“And if he wanted something,” he added, “nothing could stop him.”
Mr. Nicholson helped push prices to unprecedented heights. Bidding on an 18th-century Philadelphia Chippendale wing chair at Sotheby’s in 1986, he made the first bid at $400,000, and kept hoisting his paddle high while imperceptible signals from competitors around the room (an earlobe tug, a crossing of arms) drove the sale price to $1.1 million, then a record for American furniture, according to an account in The New York Times. Mr. Nicholson got his wing chair.
In 1980 Mr. Nicholson was president of Congoleum, a publicly traded conglomerate involved in military contracting, auto supplies and floor covering, when he and a fellow executive, Byron C. Radaker, took the company private in a $580 million buyout backed by investors. The deal was among the first of its kind, and the largest at the time, in a decade that would come to be defined by such leveraged buyouts, so named because buyers used a company’s own assets as collateral to finance, or leverage, the purchase of its stock.
In 1986, Mr. Nicholson and Mr. Radaker dismantled Congoleum and sold its various subsidiaries for a reported $850 million.
Mr. Nicholson’s interest in early American art and furniture began with his move to Portsmouth, N.H., where Congoleum moved its corporate headquarters from Milwaukee in 1980. He wanted to decorate the new headquarters with nautical paintings, and sought expert help in finding works that reflected American military history.
After one of his first purchases — a painting by the 19th-century artist Thomas Birch depicting a scene from the Battle of Lake Erie in the War of 1812 — “a light went off for him,” Mr. Hays said. He became a studious and shrewd collector of a wide variety of artifacts, most of which ended up as furnishing and decoration in his family’s home in Hampton Falls, N.H.
When Mr. Nicholson left New Hampshire and auctioned the contents of the house in 1995, the lot brought total sales of $14 million, which at that time was the most ever paid for a privately held early American collection, Mr. Hays said.
Eddy Gene Nicholson was born on May 2, 1938, the oldest of Doris and Voy Nicholson’s five children. His father worked on the assembly line in a Levi’s jeans factory.
Eddy Nicholson graduated in 1960 from what is now the University of Memphis with a business degree and later became a certified public accountant, working his way up to executive positions at a number of firms before arriving at Congoleum in 1975. He became the company’s president and chief operating officer in 1980.
He is survived by his wife of 53 years, Linda; their children, Kevin, of Beverly, Mass., Steven, of West Lake Village, Calif., and Deidre Cronenbold, of Montecito, Calif.; and four grandchildren, as well as four siblings: Joel, of Osprey, Fla.; Timothy, of Chesterfield, Mo.; Sara Hartshorn, of Contoocook, N.H.; and Jeffrey, of Decatur, Tex.
Mr. Nicholson’s style may have raised eyebrows, Mr. Hays, said, but it also had a “democratizing” effect on the insular world of art collecting. “He was,” Mr. Hays said, “a real game-changer.”
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