Divorces can be expensive, but rarely has one been as expensive as this one: The joint art collection of the couple Linda and Harry Macklowe, whose judicial war of roses led to the foreclosure of their first-class collection of post-war art, once again set an auction record.
Ursula Scheer
Editor in the Feuilleton.
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After the first tranche of 35 lots brought in an incredible $676.1 million plus premium in November - the highest amount ever achieved for the auction of objects from a collection in the history of the auction house - the 30 works called up on Monday evening achieved the second and final tranche for a total price of $208.7 million plus premium.
That was within the preliminary estimate, but is no less sensational for that.
Grossing $922.2 million, the Macklowe Collection, which brings together big names like Giacometti, Twombly, Wahrol, Polke, de Kooning and Richter, is now the most expensive art collection ever sold at auction.
It replaces the Christie's collection of Peggy and David Rockefeller in the top position, which grossed a total of $ 835.1 million in several auctions in 2018.
The sale of the Macklowe collection with top works of post-war modernism, abstraction and conceptual art showed impressively how in demand outstanding works of this epoch are - and what financial strength is at work in the top segment of the art market.
Nevertheless, as in the first auction, all lots in the second auction were secured by guarantees and, in some cases, by irrevocable bids.
Most buyers came from America and Europe.
In some cases, fierce bidding wars broke out.
As expected, the top lots according to preliminary estimates brought in the best results within their estimates: Mark Rothko's composition in shades of red "Untitled" from 1960 sold for $41.5 million.
Gerhard Richter's 1985 "Seestück" sold for $26 million.