A blue-chip art bonanza: Macklowe Collection goes to Sotheby’s

A blue-chip art bonanza: Macklowe Collection goes to Sotheby’s

With major pieces by artists like Andy Warhol, Cy Twombly, Gerhard Richter and Mark Rothko, the Macklowe Collection will be sold at Sotheby’s with an estimated total value of more than $600 million, the auction house announced on Thursday, the highest estimate on a collection to come to auction. Calling it “one of the most significant and museum-quality collections of modern and contemporary art ever to come to market,” Charles F. Stewart, Sotheby’s chief executive, said at a livestream news conference from the auction house’s New York galleries that the sale “will captivate top collectors from around the world and that it will make history as a defining moment in the art market.” That market could use a boost, given the last 18 months of pandemic-dampened activity. Auction sales declined 30% to $17.6 billion in 2020 from $25.2 billion in 2019, according to the latest Art Market report, published by Art Basel and UBS, bringing the market
With major pieces by artists like Andy Warhol, Cy Twombly, Gerhard Richter and Mark Rothko, the Macklowe Collection will be sold at Sotheby’s with an estimated total value of more than $600 million, the auction house announced on Thursday, the highest estimate on a collection to come to auction. Calling it “one of the most significant and museum-quality collections of modern and contemporary art ever to come to market,” Charles F. Stewart, Sotheby’s chief executive, said at a livestream news conference from the auction house’s New York galleries that the sale “will captivate top collectors from around the world and that it will make history as a defining moment in the art market.” That market could use a boost, given the last 18 months of pandemic-dampened activity. Auction sales declined 30% to $17.6 billion in 2020 from $25.2 billion in 2019, according to the latest Art Market report, published by Art Basel and UBS, bringing the market