The art collection of Paul G. Allen, the co- founder of Microsoft, will be sold by Christie's. The trove has an estimated value of more than $1 billion.
A sale of more than 150 artworks from 500 years ago would be the largest in auction history. Christie's said it would give all the money to charity.
The chief executive of Christie's said that it was a major event for the art market and for the art world. We are really moved by the project we are on, the fact that it embraces five centuries of great art, and the fact that it is dedicated to philanthropy. It's a very special thing.
The art market has continued to surge despite the economic downturn, an overseas war, and rising inflation. The market generated over $60 billion in the year 2021, according to the survey.
In May, Andy Warhol's 1964 silk-screen of Marilyn Monroe's face, "Shot Sage Blue Marilyn," sold for about $195 million to an unknown buyer, making it the highest price achieved for any American work of art.
The Rockefellers' private collection set a high of $833 million for the most valuable private collection sold at auction, beating the previous record of $443 million for the Yves Saint Laurent collection in 2009.
The works from the Allen estate are expected to bring in more than $50 million. There are more than one old master. The works would be offered in different ways.
Alex Rotter is the chairman of Christie's departments specializing in sales of 20th- and 21st-century art. The landscape and figuration are the dominant ones.
After visiting the Tate Britain in London, Allen fell in love with Turner and Lichtenstein.
In 2000, Allen founded the Museum of Pop Culture, where he displayed items such as guitars owned by Jimi Hendrix in a Seattle building designed by Frank Gehry.
Major museums and galleries received works from Allen. The Portland Art Museum, the Seattle Art Museum and the Paul G. Allen Family Collection put on the exhibition " Seeing Nature" in the summer of 2016 The paintings of the five senses were created by Jan Brueghel the Younger in the 17th century.
Allen said living with art is amazing. Some of the works should be given to the public to see.
Double Take: From Monet to Lichtenstein was presented in 2006 at his pop culture museum. The works of Van Gogh and de Kooning were compared with Monet's 1919 "Water Lilies."
Art is an important investment. The anonymous buyer of Monet's 1891 canvas of a haystack at Christie's in 2016 set a new auction record.
An effort was made to make art accessible to more people by Allen. He started the Seattle Art Fair at the football stadium where the Seattle Seahawks played. Public art projects in the city were commissioned by his investment company.
Jody Allen said that Paul was always happy to share his experience with others. The collection is in the hands of Christie's world-class operation, and I am very pleased to have it there.
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