Hailed as "the greatest collection of modern and contemporary art ever to come to the market" by Sotheby's CEO Charles F. Stewart, the Macklowe collection is set to be sold at Sotheby's in two separate sales, one on November 15 and one May 2022 in New York. Comprised of 65 works from the most lauded artists, and estimated to fetch approximately $600 million, the highest estimate for a single-owner collection, the Macklowe collection spans the 1940s to the 2010s.
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Although the sale is certainly a celebration of some of modern and contemporary art's finest achievements, the reason for the collection coming to auction is far less joyous. Harry Macklowe, the billionaire New York real estate investor, and his wife Linda were married for over 50 years until 2016, when the couple split in a high-profile divorce. With billions at stake, the couple was court ordered to sell their art collection, but both sides failed to come up with similar valuations for the artworks, which was settled by a third-party mediator. Though Christie's, Sotheby's and Phillips vied for the opportunity to sell the massive collection, Sotheby's announced on September 9 in a livestream broadcast that the house would exclusively offer the collection. It stands to rival the estate of Peggy and David Rockefeller, auctioned by Christie's in 2018 for a total of $835 million.
“The Macklowe Collection is a collection formed as the result of decades of rigorous, fearless and informed pursuit," said Brooke Lampley, Sotheby’s Chairman & Worldwide Head of Sales for Global Fine Art. "The works are not only defining masterpieces of each artist’s aesthetic, they also speak to our emotions, our intellect and the daunting complexities of the human condition. The rarity, power and exceptional quality of Giacometti’s Le Nez — a fundamentally modern work — sets the tone for the entire collection, which continues, without pause, through to works created in the last decade."
Here are the highlights of the sale:
One of the two top lots of the collection is Le Nez, a whimsical sculpture by Alberto Giacometti and considered one of his most important works. The bronze head with protruding nose suspended in a cage displays the sculptor's fascination with depicting humanity through the lens of surrealism and existentialism. The work carries a staggering $60-80 million estimate, though three sculptures by Giacometti have topped the $100 million mark.
Related: The 10 Most Expensive Sculptures Sold at Auction
The other lot with the same estimate is Mark Rothko's No. 7 from 1951, a characteristic color block painting divided into shades of rose, mustard yellow and orange. The monumental work is from Rothko's most prolific decade, the 1950s, from which many of his museum-held work derive from.
Marilyn Monroe has forever been immortalized in Andy Warhol's screenprints, arguably his most iconic works. From 1962, the year Marilyn died at the age of 36, Nine Marilyns marks a pivot moment in Warhol's career, when he portrayed his fascination with celebrity, pattern, pop culture and screenprinting. The black and white publicity print from her 1953 movie Niagara was repeated nine times here and of the six he made with this number, only two are still in private hands, making this work exceedingly rare on the market and estimated at $40-60 million.
This 18-foot Cy Twombly masterpiece draws inspiration from a 17th century Japanese haiku and is a part of a six-painting series titled A Scattering of Blossoms. The bleeding bright red peonies pop against the pale green canvas, a striking combination that captures his almost graffiti-like aesthetic. The work also carries the impressive estimate of $40-60 million.
Other highlights from the collection include Gerhard Richter's Seestück,($25–35 million); Pablo Picasso's Figure (Projet pour un monument à Guillaume Apollinaire) ($15–20 million); and Willem de Kooning's Untitled XXXIII ($12–18 million), as well as works by Jeff Koons, Brice Marden, Agnes Martin and Sigmar Polke.
