Microsoft co-founder's collection fetches $1.6bn in most expensive art auction
What's the story
Paul Allen, the late co-founder of Microsoft, was known for revolutionizing computing. However, he was also an avid art collector. His art has now transcended his lifetime. In an auction at the famed Christie's, Allen's incomparable collection was sold for a startling $1.6 billion, setting the record for the most valuable single-owner art collection ever sold at an auction.
Collection
The collection was called 'Visionary: The Paul G. Allen Collection'
Christie's called Allen's collection 'Visionary: The Paul G. Allen Collection.' The collection had works of old masters, impressionists, leaders of abstract art, and contemporary trailblazers. The auction was conducted in two parts. In the first part, 60 paintings were sold for a whopping $1.5 billion. In the second part, 95 works were auctioned off for a total of $115.86 million.
Top lot
George Seurat's painting fetched $149.24 million
George Seurat's 'Les Poseuses, Ensemble (Petite version)'' was sold for $149.24 million, the highest price ever for any impressionist or post-impressionist painting. Vincent Van Gough's 'Verger avec cyprus'' went for $117 million, while Paul Cézanne's 'La Montagne Sainte-Victoire'' was sold for $137.8 million. Someone sunk $105.74 million into Paul Gauguin's 'Maternité II.' Over two paintings have never exceeded $100 million in a single sale.
Other notables
The collection included work of Picasso, Botticelli, Jasper Johns
Gustav Klimt's 'Birch Forest'' was another painting to fetch over $100 million ($104.58 million) from the collection. Other notable paintings include Pablo Picasso's 'Tête classique,' Georgia O'Keeffe's 'White Rose with Larkspur No.1,' Sandro Botticelli's 'Madonna of the Magnificat,' and Lucian Freud's 'Large Interior, W11 (after Watteau).' The most expensive piece of part two was a sculpture by Claes Oldenburg called 'Typewriter Eraser, Scale X.'
Proceeds
23 works sold at the auction set artist records
The previous record for the most valuable art collection sold at an auction was $922.2 million. During the sale of Allen's collection, 23 works achieved artist records. The proceeds of the sale will be given to philanthropic causes by Allen's foundation, said Christie's. After Allen died of non-Hodgkin's lymphoma, his sister was entrusted with his foundation. She has been gradually selling off the estate.