Sotheby’s has already broken estimates in fine art and modern art sales. Its prized Macklowe collection has brought in an amazing $676.1 million after fees. The estimates had been nearly $620 million on the high-end of the range, so it will be hard for critics to flag many disappointments here after evaluating the big items. After certain guarantees, there were 21 lots which were classified with irrevocable bids.

While some auctions are locking in prices or estate sales by heirs, this was a court-ordered auction based on an impasse in the Macklowe family divorce. The couple could not reach an agreement about how to divide up what was deemed the most expensive modern collection in private hands. And while this trove of modern art is amazing enough, more of the collection will come up for auction in a Sotheby’s auction next May.

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. That would definitely be the case for modern artwork in the millions and tens of millions of dollars. One question that may be worth asking at this point is how much of the auction went to collectors and how much went to investors.

Collectors Dashboard has reviewed the top 10 items that sold so far in Sotheby’s Macklowe auction. All images below after each auction description were taken from the Sotheby’s press release.

According to Sotheby’s, a 1951 Mark Rothko piece titled No. 7 sold for $82.468 million. This is reported to be the second-highest dollar amount that a Rothko piece has ever taken in at an auction, and it was above the mid-point of the $70 million to $90 million range.

The standout sculpture of Le Nez by Alberto Giacometti fetched $78.396 million. This was within the range of $70 million to $90 million that Sotheby’s had on the item.

A piece by Jackson Pollock from 1951, simply titled Number 17, sold for $61.161 million. This trounced the estimates of $25 million to $35 million and was reported to be a new artist record in the auction.

An untitled Cy Twombly piece came with estimates of $40 million to $60 million and finished with a $58.863 million price.

Two Andy Warhol pieces followed in the rank of high-priced art. His Nine Marilyns sold for $47.373 million and his Sixteen Jackies sold for $38.872 million.

Gerhard Richter’s Abstraktes Bild went above its expected $20 million to $30 million with a $33.01 million price.

A Pablo Picasso sculpture or creation title Figure (Projet pour un monument à Guillaume Apollinaire) sold for $26.278 million. Sotheby’s had a range of $15 million to $25 million for the piece.

A painting by Philip Guston titled Strong Light sold for $24.292 million. This was more than double the mid-point of the $8 million to $12 million range.

An untitled (XXXIII) Willem De Kooning piece also went above the estimated range of $12 million to $18 million with a $24.393 million sale price.

These were just the top 10 items that sold and there are more coming in 2022.

According to the Sotheby’s press release that was a capstone for the Macklowe auction:

Encompassing 65 works in total, The Macklowe Collection will be offered across two dedicated single owner evening sales at Sotheby’s in New York, on November 15 this year and in May 2022. Each of the 65 works is a consummate masterpiece; together they constitute an unrivaled ensemble that meticulously traces the most important art historical achievements of the last 80 years. Acquired over the course of half a century, the collection reflects decades of pursuit, honing and refining, driven by immense patience and an innate understanding of quality.