The largest art auction in history saw works from the vast private collection assembled by late Microsoft pioneer Paul G. Allen sell for more than $1.5 billion. A portion of Microsoft cofounder’s collection was sold at auction in New York, under the direction of Christie’s.
In fact, a total of $1,506,386,000 was paid for 60 pieces in the first leg of the auction. Indeed, this makes Allen’s collection the most expensive private collection in history, according to Christie’s, and indicating “a sale of historic proportions.”
During the auction’s sale of Alberto Giacometti’s sculpture Femme de Venise III, which fetched more than $25 million, the world record was broken halfway through the bidding.
The previous record was $922 million, set in May when real estate magnate Harry Macklowe and his wife, Linda, liquidated their art collection as part of their divorce proceedings. However, this sale broke that record with a vengeance.
Masterpieces by Paul Gauguin, Claude Monet, and Edouard Manet were among the artworks sold in the first leg of the Allen Collection auction, which featured works from the collection that span five centuries.
Five paintings, including La Montagne Sainte-Victoire by Paul Cezanne and Verger avec cyprès by Vincent van Gogh, sold for more than $100 million each, making up more than 65% of the sold works. Also, the latter was purchased for the highest sum ever paid for a van Gogh work.
Georges Seurat’s Les Poseuses, Ensemble (Petite version), which sold for $149,240,000, received the highest bid of the evening.
Additionally, in accordance with the late Microsoft cofounder’s desires, charitable organizations will receive all sales revenues.
Allen himself selected every piece of art he owned, in contrast to many affluent art collectors who use art buyers to choose pieces for their own collections.
Marc Porter, chairman of Christie’s Americas, said in a statement on Thursday that it was “very satisfying” that the auction house and the Allen Estate were able to break a global record for the benefit of others.
“Let’s take a minute to remember that one man’s ardent pursuit of perfection and his dedication to improving the world led to this”, he added.
“We may never see this range, quantity, and quality of masterpieces in one private collection again,” Max Carter, vice chairman of 20th and 21st century art at Christie’s, remarked.
