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Art from acrimonious divorce raises $676m at Sotheby’s in New York | Art

An acrimonious divorce in which the combatants had been ordered to promote an artwork assortment together with works by Andy Warhol, Jackson Pollock and Mark Rothko after being unable to agree its price, has resulted in essentially the most invaluable public sale ever held by one of many world’s main artwork homes.

Greater than $676m(£503m) was paid for the Macklowe Assortment, amassed over greater than half a century by the actual property magnate Harry Macklowe and Linda Macklowe, an honorary trustee of New York’s Metropolitan Museum of Art.

The full sum made the sale essentially the most invaluable single-owner public sale ever staged, and essentially the most invaluable public sale held at Sotheby’s, the public sale home stated.

Andy Warhol’s Nine Marilyns (left), which sold for $47.4m, and Jackson Pollock’s Number 17, 1951 (right), up for auction at Sotheby’s in New York
Andy Warhol’s 9 Marilyns (left), which bought for $47.4m, and Jackson Pollock’s Quantity 17, 1951 (proper), up for public sale at Sotheby’s in New York. {Photograph}: Yuki Iwamura/AFP/Getty Photos

The 35 works included Rothko’s 8ft tall Quantity 7, which was bought for $82.5m, the most important single sum of the sale. Created in 1951, the portray was described by Grégoire Billault, Sotheby’s chairman for modern artwork, as “an ideal symphony of color, gentle and scale” and among the many artist’s biggest works.

Warhol’s silkscreen 9 Marilyns bought for $47.4m and his Sixteen Jackies reached $33.9m. Alberto Giacometti’s bronze sculpture, Le Nez, bought for $78.4m and one other by Picasso reached $26.3m.

Pollock’s Quantity 17, 1951 greater than doubled the decrease finish of its pre-sale estimate to go for $61.2m, and Cy Twombly’s untitled portray of dripping crimson peonies made £58.9m.

The gathering additionally included works by Sigmar Polke, Gerhard Richter and Agnes Martin.

The Macklowes, each in their 80s, constructed up their artwork assortment over nearly six many years of marriage, though Linda was regarded as the driving power behind most acquisitions.

Harry and Linda Macklowe attend a gala at the Waldorf Astoria in New York in 2007
Harry and Linda Macklowe attend a gala at the Waldorf Astoria in New York in 2007. {Photograph}: Patrick McMullan/Getty Photos

The couple had been famend for making barbed exchanges at public occasions, and their marital strife finally resulted in a divorce. In addition to their artwork assortment, at stake had been two Manhattan flats – one valued at $72m – plus a $19m property in the Hamptons and a 150ft yacht.

However neither they nor their attorneys might agree on the worth of their artwork assortment. A choose concluded the one solution to set up its price was to check the market, and ordered the works to be bought.

Following a 14-week divorce case, Harry Macklowe celebrated his new marriage to Patricia Landau by posting 42ft excessive photos of the newlyweds on considered one of his buildings in New York’s Park Avenue – close by of his ex-wife’s condo.

The sale at Sotheby’s in New York on Monday night was thought to be the largest check of the high-quality artwork market because the begin of the Covid pandemic in early 2020. With demand usually exceeding provide, there was sturdy competitors for the works, notably from bidders representing Asian consumers.

Virtually a 3rd of Sotheby’s gross sales final yr had been secured for Asian collectors.

Each Harry and Linda Macklowe attended the Sotheby’s sale. A second sale, of an additional 40 works in the couple’s assortment, is scheduled for Might 2022.

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