MACKLOWE’S ART COLLECTION IS THE MOST EXPENSIVE AUCTION SALE EVER

Tue 17 May 2022:

On Monday, the legendary Macklowe collection, which had been the subject of a bitter divorce dispute between a New York property tycoon and his ex-wife, became the most expensive art collection ever sold at auction.

A spokesman for Sotheby’s told AFP that the second offering of works from the collection sold for $246.1 million, bringing the total value of the group of paintings to $922.2 million.

#AuctionUpdate: The second work from Willem De Kooning, ‘Untitled XIII’, achieves $9 million #TheMackloweCollection pic.twitter.com/sghUO00dP9

— Sotheby’s (@Sothebys) May 17, 2022

That surpasses the $835.1 million paid for the Rockefeller collection at auction in 2018, which was previously the biggest sum ever paid for a single private collection.

Mark Rothko’s “Untitled,” which sold for $48 million, and Gerhard Richter’s “Seestuck,” which sold for $30.2 million, were among the highlights of Monday’s auction.

#AuctionUpdate: The highly anticipated Warhol ‘Self Portrait’ achieves $18.7 million #TheMackloweCollection pic.twitter.com/72hVopKS28

— Sotheby’s (@Sothebys) May 17, 2022

Andy Warhol’s “Self Portrait” sold for $18.7 million while Willem de Kooning’s “Untitled” went for $17.8 million.

Sotheby’s won the rights to sell the Macklowe works back in September. It sold 35 of the pieces in November for $676.1 million before selling the remaining 30 on Monday.

#AuctionUpdate: The highly anticipated Warhol ‘Self Portrait’ achieves $18.7 million #TheMackloweCollection pic.twitter.com/72hVopKS28

— Sotheby’s (@Sothebys) May 17, 2022

The paintings were characterized as the “most significant collection of modern and contemporary art to ever be on the market” by Sotheby’s.

Harry Macklowe and his ex-wife Linda couldn’t agree on how much the large collection was worth during their divorce procedures.

In 2018, a judge in New York determined that they should sell all 65 works and divide the profits.

#TheMackloweCollection achieves a total of $922.2 million, becoming the most valuable collection ever sold at auction. Learn more: https://t.co/4Bxob3oMz1 pic.twitter.com/BG3bCNjWt1

— Sotheby’s (@Sothebys) May 17, 2022

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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