After Ugly Divorce Battle, Macklowe Collection Yields $677M at Sotheby’s Auction

Edited by: TJVNews.com

The highly anticipated sale of The Macklowe Collection realized a total $676.1 million on the strength of fresh-to-market masterpieces by the most important artists of the last 80 years. Highlights of the evening included Mark Rothko’s No. 7, which sold for $82.5 million, Albert Giacometti’s Le Nez, which achieved $78.4 million, Jackson Pollock’s Number 17, 1951, which more than doubled its low estimate to achieve $61.2 million, a new artist record, and Cy Twombly’s monumental Untitled, which sold for $58.9 million.

Acquired over the course of half a century, the collection reflects decades of pursuit, honing and refining, driven by immense patience and an innate understanding of quality. The sale of The Macklowe Collection will continue in May 2022, with even more blue-chip art coming to auction at Sotheby’s.

The Macklowe Collection is one of the most important collections of any collecting category ever to appear on the market. Encompassing 65 works in total, The Macklowe Collection was offered across two dedicated single owner evening sales at Sotheby’s in New York, on November 15th this year and in May 2022. Each of the 65 works is a consummate masterpiece; together they constitute an unrivaled ensemble that meticulously traces the most important art historical achievements of the last 80 years. Acquired over the course of half a century, the collection reflects decades of pursuit, honing and refining, driven by immense patience and an innate understanding of quality.

The November auction featured 35 works which together encompass an extraordinary breadth of 20th- and 21st-century art, ranging in date from the 1940s to works painted less than a decade ago, and including masterworks by Alberto Giacometti, Mark Rothko, Cy Twombly, and Andy Warhol. The sale also shines a light on a distinguishing feature of the collection as a whole: its enormous depth. Many artists – among them Jeff Koons, Brice Marden, Agnes Martin, Sigmar Polke, Gerhard Richter, Cy Twombly and Andy Warhol – are represented by multiple works, each one marking a distinct and critical moment in their respective careers, and together forming an insightful portrait of the artists’ evolution over time.

             (www.Sothebys.com)