Auction for a $600 million art collection featuring works by Picasso and Warhol

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New York – (AFP)
Paintings and sculptures by Pablo Picasso, Andy Warhol, Mark Rothko and Alberto Giacometti belonging to a wealthy divorced New York couple will be up for auction soon by Sotheby’s, with a total estimated value of nearly $600 million, the auction house announced.
Sotheby’s CEO Charles Stewart said during an online press conference that the house had commissioned the auction in November and May for 65 pieces that constitute “the largest collection of modern and contemporary art that has ever been on the market.”
The auction house indicated that the total value of the paintings, estimated at about $ 600 million, is the highest ever sold for a group of works belonging to contemporary and modern art.
The group is owned by New York real estate magnate Harry McCullough and his ex-wife Linda, but the judiciary did not reach a determination of its value during the couple’s divorce, which sparked wide media attention in the late second decade of this century.
Sotheby’s indicated that the price for both the “Nose” sculpture by Jacometti and the painting “Number 7” by Rothko could reach $ 70 million.
The value of the famous “Nine Marlins” painting by Warhol was estimated at between 40 and 60 million dollars, while the value of a sculpture of wire and sheet metal by Picasso, designed as a funeral monument on the tenth anniversary of the death of the poet Guillaume Apollinaire in 1918, may reach about 20 million dollars. Stewart expected this auction to be “historic” and “print the art market and Sotheby’s’ 277-year history.”





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