There are art collections, and there are ART COLLECTIONS! The Macklowe Collection is the most valuable private art collection that has come to sale since the Rockefeller estate in 2018. Sotheby’s is handling the sale with works from great artists such as Picasso, Warhol, Giacometti, Rothko, and Willem de Kooning. It is 65 works in total. Sotheby’s has issued an auction estimate that is in excess of $600,000,000 in total. By their words, this would be the highest estimate ever placed on any collection to come to auction.

The Macklowe Collection of modern art will be sold by Sotheby’s in two separate auctions in New York on November 15 and on an unannounced day in May 2022. The collection was on display at Sotheby’s in New York City and is being displayed in Taipei, Hong Kong, London, Los Angeles and Paris before being returned to New York City for the Number auction.

A high-profile divorce of billionaire real estate investor Harry Macklowe and wife Linda is the ultimate reason for the collection coming up for sale. Defining masterpieces of each artist’s aesthetic is a Sotheby’s description, and the auction house has called this a once in a lifetime offering.

Alberto Giacometti’s Le Nez is the centerpiece or public face of the show. The sculpture was cast in 1964 and first conceived in 1947. As one of his most important works a collector can imagine the amount of thought and energy that went into something that was first envisioned by themselves nearly 20 years previous. While the price had said “available upon request” the outside estimate was noted as between $60,000,000 to $80,000,000. (Image courtesy of Sotheby’s)

Sotheby’s notes that three sculptures by this artist have topped $100,000,000. They also note on Sotheby’s website that, “the striking form of the figure suspended within a cage evokes fragility, aggression and tension that lie at the heart of the existential experience so central to Giacometti’s art.”

According to an outside review by Barnebys, the collection as a whole stands to rival the estate of Peggy and David Rockefeller which was auctioned by Christies in 2018 for a total of $835 million.

There are not many art collections that get sold where original Pablo Picasso works are dwarfed in value or prestige by other artists. Pablo Picasso’s Figure (Projet pour un monument à Guillaume Apollinaire) is estimated to sell between $15,000,000 to $20,000,000. According to Sotheby’s listing Pablo Picasso conceived the idea in 1928 and this particular version of it was enlarged and executed in 1962.

Andy Warhol’s 1962 black and white publicity print from Marilyn Monroe’s 1953 film Niagara is estimated to sell between $40,000,000 to $60,000,000. Sotheby’s noted that Warhol created 20 of these silkscreen paintings, but of those 20 only six are in this exact style — and of the six this particular work is just one of two still in private hands.

Mark Rothko’s No. 7 comes from the artist’s most prolific decade, the 1950s. No. 7 is a monumental work in the opinion of Sotheby’s. The 1950s era of his artwork is desired and exists in many museum collections. Sotheby’s will offer an estimate by request for this piece. (Image courtesy of Sotheby’s)

Willem de Kooning has two pieces that are included. One is Untitled XXXIII from 1977, estimated to sell for $12,000,000 to $18,000,000. The second is Untitled IV from 1983, estimated to sell for $10,000,000 to $15,000,000.

Gerhard Richter’s Seestück is estimated between $25,000,000 to $35,000,000.

Cy Twombly’s Untitled fills a room with a scene inspired by Japanese flowers and is part of a series titled A Scattering of Blossoms that is estimated to sell between $40,000,000 to $60,000,000.

Sigmar Polke’s Rassterbild mit Palmen from 1966 is estimated to sell for $8,000,000 to $12,000,000.

Collectors Dashboard evaluates collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. And in the case of fine art with prices this high, the capital could have just as easily been invested into real estate projects. Collectors with a passion to own a collectible for years frequently have to compete directly against investors whose only desire is to make a profit in the future.

Collectors Dashboard will be following the sale to discover potential records to be broken. To view the works, Sotheby’s lists the dates the art will be traveling around the world for display before sale in New York November 15, 2021. The art community and collector community will be patiently waiting for works that have not been seen or sold in many years.