Art
Most Expensive Art Auction Ever: Paul Allen’s Collection Fetches Record $1 Billion
Topline
Art amassed by late Microsoft cofounder Paul Allen brought in more than $1 billion at Christie’s Wednesday evening, setting the record for the most valuable single-owner art collection ever sold at auction, only halfway through the first night of the two-day sale–here’s which pieces have fetched the most.
Key Facts
“Les Poseuses, Ensemble (Petite version)” by Georges Seurat was the most valuable artwork sold during the sale so far, fetching $149.24 million including fees, nearly five times higher than the 19th-century artist’s previous auction record.
Paul Cézanne’s “La Montagne Sainte-Victoire” sold for $137.8 million, nearly doubling the artist’s auction record.
“Verger avec cyprès” by Vincent Van Gogh also broke the artist’s previous record, selling for $117.2 million.
“Maternité II” by Paul Gauguin realized $105.7 million, just over three times the previous record for the most valuable work by Gaugin to sell at auction.
“Birch Forest” by Gustav Klimt fetched $104.6 million and broke the artist’s previous auction record, the $59 million his “Bauerngarten” fetched in 2017.
What To Watch For
Another 95 artworks from Allen’s collection will go to auction on Thursday during a day sale. The pieces on sale are estimated to fetch lower prices than those that sold Wednesday, with the most expensive–a sculpture by Claes Oldenburg, “Typewriter Eraser, Scale X”— expected to sell for as much as $7 million.
Big Number
$922.2 million. That was the previous record for the most valuable art collection sold at auction. It was set just six months ago in May when Manhattan real estate mogul Harry Macklowe and his former wife Linda sold their art collection after their high-profile divorce.
“Les Poseuses, Ensemble (Petite version)” by Georges Seurat
Christie’s
Surprising Fact
At least 13 artists’ auction records were broken Wednesday night alone. Artwork by Seurat, Gauguin, Cézanne, Klimt, Van Gogh, Jasper Johns, Henri-Edmond Cross, Henri Le Sidaner, Paul Signac, Andrew Wyeth, Edward Steichen, Lucian Freud and Jan Breughel the Younger reached fetched higher prices than at any other auction.
“Maternité II” by Paul Gaugin
Christie’s
Forbes Valuation
We estimated Allen was worth $20.3 billion in 2018, the year he died. He cofounded Microsoft in 1975 with his childhood friend Bill Gates. After his death, responsibility for his foundation went to his sister, Jody, who has been gradually selling off his estate.
Key Background
Allen didn’t start collecting art until the early 1990s, after he visited the Tate Modern in London and realized he too could own world-class artwork, according to Deborah Gunn, who was associate director of art finance at Vulcan, Allen’s investment management company. Allen’s taste was varied and his collection spans more than 500 years of art history, from Botticelli to McArthur Binion. He was particularly drawn to pointillism and Jasper Johns’ “numbers” series, which he said reminded him of coding. Allen also enjoyed landscapes and scenes of Venice, of which the auction includes eight.
“La Montagne Sainte-Victoire” by Paul Cezanne
Christie’s
What We Don’t Know
The full size of the art collection Allen put together during his lifetime. A notoriously secretive collector, Allen did not publicize his art when he was alive, and even this auction of more than 150 pieces isn’t the full picture, according to Christie’s. Allen owned artwork that would be worth an additional $500 million, an investigation from Artnet found.
“Birch Forest” by Gustav Klimt
Christie’s
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The Courtauld Gallery at Somerset House has reopened its doors to the public after a fire swept through the historic building in central London. While the gallery has resumed operations, the rest of the iconic site remains closed “until further notice.”
On Saturday, approximately 125 firefighters were called to the scene to battle the blaze, which sent smoke billowing across the city. Fortunately, the fire occurred in a part of the building not housing valuable artworks, and no injuries were reported. Authorities are still investigating the cause of the fire.
Despite the disruption, art lovers queued outside the gallery before it reopened at 10:00 BST on Sunday. One visitor expressed his relief, saying, “I was sad to see the fire, but I’m relieved the art is safe.”
The Clark family, visiting London from Washington state, USA, had a unique perspective on the incident. While sightseeing on the London Eye, they watched as firefighters tackled the flames. Paul Clark, accompanied by his wife Jiorgia and their four children, shared their concern for the safety of the artwork inside Somerset House. “It was sad to see,” Mr. Clark told the BBC. As a fan of Vincent Van Gogh, he was particularly relieved to learn that the painter’s famous Self-Portrait with Bandaged Ear had not been affected by the fire.
Blaze in the West Wing
The fire broke out around midday on Saturday in the west wing of Somerset House, a section of the building primarily used for offices and storage. Jonathan Reekie, director of Somerset House Trust, assured the public that “no valuable artefacts or artworks” were located in that part of the building. By Sunday, fire engines were still stationed outside as investigations into the fire’s origin continued.
About Somerset House
Located on the Strand in central London, Somerset House is a prominent arts venue with a rich history dating back to the Georgian era. Built on the site of a former Tudor palace, the complex is known for its iconic courtyard and is home to the Courtauld Gallery. The gallery houses a prestigious collection from the Samuel Courtauld Trust, showcasing masterpieces from the Middle Ages to the 20th century. Among the notable works are pieces by impressionist legends such as Edouard Manet, Claude Monet, Paul Cézanne, and Vincent Van Gogh.
Somerset House regularly hosts cultural exhibitions and public events, including its popular winter ice skating sessions in the courtyard. However, for now, the venue remains partially closed as authorities ensure the safety of the site following the fire.
Art lovers and the Somerset House community can take solace in knowing that the invaluable collection remains unharmed, and the Courtauld Gallery continues to welcome visitors, offering a reprieve amid the disruption.
Sudbury’s annual art and music festival is marking a significant milestone this year, celebrating its long-standing impact on the local cultural scene. The festival, which has grown from a small community event to a major celebration of creativity, brings together artists, musicians, and visitors from across the region for a weekend of vibrant performances and exhibitions.
The event features a diverse range of activities, from live music performances to art installations, workshops, and interactive exhibits that highlight both emerging and established talent. This year’s milestone celebration will also honor the festival’s history by showcasing some of the artists and performers who have contributed to its success over the years.
Organizers are excited to see how the festival has evolved, becoming a cornerstone of Sudbury’s cultural landscape. “This festival is a celebration of creativity, community, and the incredible talent we have here in Sudbury,” said one of the event’s coordinators. “It’s amazing to see how it has grown and the impact it continues to have on the arts community.”
With this year’s milestone celebration, the festival promises to be bigger and better than ever, with a full lineup of exciting events, workshops, and performances that will inspire and engage attendees of all ages.
The festival’s milestone is not just a reflection of its past success but a celebration of the continued vibrancy of Sudbury’s arts scene.
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