Divorcing couple auctions off art for $923 million

Above art: “Le Nez” or “The Nose”  

Just one of many works from this record-breaking auction, made of bronze, steel and iron.

The head is suspended from a piece of rope too long tied to a bar simply resting on the top of the cage.

The following written content from Adela Suliman

Highly valuable art acquired during more than 50 years of marriage was sold in a matter of hours in a record-breaking auction, following a New York couple’s divorce.

Real estate mogul Harry Macklowe and his wife Linda were ordered by a court in 2018 to sell their blue-chip art collection and split the proceeds, amid their divorce proceedings. The art collection spanned decades and included works by Jackson Pollock, Mark Rothko and Cy Twombly.

The McCrow collection consists of 65 works in total. More than half will be sold on Monday and the rest will be auctioned in New York in May 2022, according to Sotheby’s.

Of the 35 works, the most valuable one was Rothko’s. No.7, Sold for $ 82.5 million after an 8-minute bid battle from 1951. The second highest price for the work of the late abstract artist, the painting was auctioned for the first time. According to Reuters, the identity of the buyer of the painting, which consisted of three brightly colored bands, was unknown, but caused fierce telephone bids from representatives of Asian customers.

Swiss artist Alberto Giacometti Renez According to Sotheby’s, the sculpture was sold to Asian collectors for $ 78.4 million.

Alberto Giacometti’s “Renez” sculpture sold for $ 78.4 million

The “nose” sculptures made of bronze, steel and iron symbolize the work of the rugged and diminished figures of the 20th century sculptors.

American artists were also doing well. Pollock’s 1951 No. 17 Part of his Black Pouring or Black Painting series earned an artist’s auction record of $ 61.2 million, more than double the estimated $ 35 million.

Pop artist Andy Warhol Nine Marilyns Created shortly after Marilyn Monroe’s death, the 1962 silkscreen sold for $ 47.3 million and portrays Hollywood actresses in three rows with nine impressions.

The collection’s revenue is estimated at around $ 400 million, and Monday’s total is well above the art world’s expectations.

“I’m very, very happy and happy,” Harry McCrow told Artnet after the auction. “I’m very honored,” Artnet said, although his ex-wife Linda was also present, but didn’t talk to the press.

Monday’s auction is a vibrant moment for the international art market, which has survived the coronavirus pandemic. According to reports from Art Basel and UBS, art market sales plummeted 22% in 2020.

According to Sotheby’s, participants from 25 countries participated in the historic auction, and the collection’s pre-sale exhibition attracted more than 27,000 visitors in Shanghai, Tokyo, London and elsewhere.

Sotheby’s owner Patrick Drahi announced the auction in September, stating: history. Read more from SNT

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