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Art auction from a high-profile divorce raises $676 million

Art auction from a high-profile divorce raises $676 million

Posted November. 18, 2021 07:21,   

Updated November. 18, 2021 07:21


The New York Times and other leading media reported on Tuesday (local time) that 35 contemporary artworks auctioned for sale from a high-profile divorce of a New York real estate developer were sold off for 676 million U.S. dollars.  

A collection of artworks by Mark Rothko, Jackson Pollock, Andy Warhol were presented for sale by New York real estate developer Harry Macklowe (84) and his ex-wife, Linda. Rothko’s “Number 7” was sold at the highest price among the 35 artworks at 82.5 million dollars to an unidentified Asian collector.

Pollack’s “Number 17, 1951” was settled at 61 million. The Giacometti sculpture titled “Renée” eventually sold at $78.4 million and Andy Warhol’s “silk screen Nine Marilyns” fetched 47.3 million.

Sotheby’s initially estimated sales of around 400 million dollars, but far exceeded estimations as the collection consisted of masterpieces sought after by art collectors, reported The New York Times. Sighs of recovery in the U.S. economy and a bull market also seem to impact the highly received response.  

The Macklowes married in 1959 and divorced in 2018. During their divorce proceedings, the judge ordered the Macklowes to sell 65 artworks from their collection and the auction was held three years after the ruling. The remaining 30 artworks will go on auction in May next year.