Due to divorce, billions of art collections go to auction. The couple could not agree

The collection was created for six decades and is sold on a court order because its owners have not been able to agree on its division in divorce proceedings. Linda Macklowe filed for divorce five years ago when she found out that her husband, developer Harry Macklowe, was having an extramarital affair. The businessman then remarried in 2019 in 2019.

A total of 65 works of art were divided into two parts by the auction hall, the first auction will be held in November and the next in May next year.

“This collection was created thanks to unsurpassed taste over several decades. There is no doubt that its sale will attract leading collectors from all over the world and rewrite history as a key moment in the art market, “said Charles Stewart of Sotheby’s.

The New York Times reminded that the art market urgently needs encouragement after the coronavirus crisis. The auctions sold $ 17.6 billion worth of works in 2020, down one-third from 2019 and the worst result in a decade.

According to experts, the big magnets for buyers will be, for example, the statue of Albert Giacometti from 1964 or the painting by Mark Rothko from 1951, which have the same estimated price of 70 million dollars (1.5 billion crowns). Works between Andy Warhol and Cy Twombly could be sold for between $ 40 million and $ 60 million.

Harry and Linda Macklowe in a 2015 photo

Photo: Profimedia.cz

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