Macklowe art collection brings in $676 mn at New York auction

Billed as the highlight of the 2021 Fall season in one of the world's auction capitals, the sale lasted more than two hours, during which all 35 pieces were sold, four of them for more than $50 million.

Between 200 and 300 people were allowed to attend the sale at Sotheby's headquarters, after several virtual seasons owing to the Covid-19 pandemic.

Two lots were tipped to be the most expensive items of the evening, but in the end it was a painting by the American expressionist Marc Rothko (1903-1970), entitled "N ° 7," which won with a sales price of $82.4 million, fees and commissions included, that nudged out "Le Nez" ("The Nose"), a bronze sculpture by Alberto Giacometti (1901-1966).

Both works were purchased remotely by Asian collectors, Sotheby's said.

The sale was the result of a divorce in 2018 of real estate developer Harry Macklowe and his wife Linda Burg, a wealthy couple who had amassed an impressive art collection.

Only 35 of the 65 pieces in the collection were sold on Monday night, with the rest to be sold in the next auction season in the spring of 2022.

But with $676 million in one night, the total could well surpass the record set by the Rockefeller collection sold in 2018 at Christie's for $835 million.