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The Macklowe art collection becomes the most expensive auction sale

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By Larry John Brown
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The famed Macklowe collection, subject of a bitter divorce battle between a New York property developer and his ex-wife, became the most expensive art collection ever sold at auction on Monday.

Sotheby’s sold its second offering of works from the collection for $246.1 million (R3.9 billion), bringing the total value of the group of paintings to $922.2 million (R14.7 billion), a spokesman told AFP.

MACKLOWE COLLECTION OUTSELLS ROCKEFELLER

That exceeds the $835.1 million (R13.3 billion) that the Rockefeller collection sold for in 2018, then the highest total ever made by a single private collection at auction.

Among the highlights of Monday evening’s sale were Mark Rothko’s Untitled, which fetched $48 million (R770 million) and Gerhard Richter’s Seestück, which went for $30.2 million (R484.6 million).

Andy Warhol’s Self Portrait sold for $18.7 million (R300 million) while Willem de Kooning’s Untitled went for $17.8 million (R285.5 million).

SOTHEBY’S MAKE BIG MONEY FROM MACKLOWE COLLECTION

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 (R10.8 billion) before selling the remaining 30 on Monday.

Sotheby’s had described the paintings as the “most significant collection of modern and contemporary art to ever appear on the market.”

AUCTION OF THE MACKLOWE COLLECTION SETTLES DIVORCE ARGUMENT

During divorce proceedings, Harry Macklowe and his ex-wife Linda had been unable to agree on how much the vast collection was worth.

A New York judge ruled in 2018 that they should sell all 65 works and split the profits.

© Agence France-Presse

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