The Hadrian statue, which has spent the past 40 years housed in the IberiaBank building on St. Peter Street, is off to New York City to be sold at auction.

The removal of the statue was prompted by the sale of the building. The sculpture was created in 127 A.D and features the likeness of Hadrian, a Roman emperor who ruled from 117 to 138 A.D.

“We have an offer on the property,” said Cecil Broussard, listing agent for the building. “It had to come out to prepare for the sale.”

7/2/08 Hadrian is moved into his shipping crate. Lee Ball/The Daily Iberian Advertisement

IberiaBank Director of Communications Beth Ardoin said the statue has been placed on consignment with Christie’s in New York and will sell at a public auction of antiquities in December.

The estimated value of the sculpture is between $350,000 and $500,000, said Mark Prendergast, a Christie’s representative on hand for Wednesday’s big move.

In a prepared statement Christie’s said “offering the work of art at auction is traditionally the best way to achieve the highest price anyone at a given moment in time is willing to pay.”

Despite a public outcry when it was announced the statue might leave New Iberia, Ardoin said IberiaBank had a “fiduciary responsibility to sell the work at auction and help maximize returns to its shareholders.”

Prendergast said the sculpture was originally made of a certain type of marble but there are several parts of it that have been added or repaired during its existence with other marbles and other mediums.

Monumental sculpture movers Displays Unlimited of Dallas were on hand Wednesday to ensure the antiquity was transported in one piece, under the watchful eye of Christie’s representatives.

The sculpture was carefully prepared and removed from its cement base before being crated and placed into a large truck. En route to New York, the statue will stop in Dallas where it will be expertly cleaned and restored by the auction house in preparation for the December sale.

Gloria Girouard watched the project unfold from within her office at the United Way located in the IberiaBank building.

“I remember when it (Hadrian) came here,” she said. “I was a senior in high school. I am watching with a heavy heart and hoping that it will go to a better place, but I can’t imagine a better place than New Iberia.”

Girouard said, over the years, the sculpture has become part of the scenery in New Iberia and she has hosted many foreign visitors who specifically asked her to show it to them.

“Banking is getting out of real estate,” she said. “I see the reasoning behind it and I understand the value of it, I just hate to see it go.”

Teche Area residents curious of how much the sculpture will fetch, can watch the Dec. 9 auction live via webcast on Christie’s Web site, www.christies.com.