Christie’s to market Microsoft co-founder Paul Allen’s $1.5 billion collection of art

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The auction of more than 150 artifacts dating back 500 years and belonging to the late Microsoft cofounder – scheduled to take place on the date that is not yet determined in November — would be the largest auction in the history of auctions.
In the most recent eye-catching news, Christie’s auction house announced on Thursday that it will auction the extensive art collection of Microsoft cofounder Paul Allen, who died in the year 2018. The collection that includes works of Pierre-Auguste Renoir and Roy Lichtenstein is estimated to be worth at more than $1 billion.

The auction over 150 artifacts that span 500 years to be held at a date that is not yet set on November 1 — could be the biggest in auction history. Christie’s stated that it will dedicate the entire proceeds to charity according to the way Allen directed.

“It’s a major event for the art market and for the art world,” Guillaume Cerutti, CEO of Christie’s stated in a phone interview.

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In May Andy Warhol’s silk-screen portrait of Marilyn Monroe’s face “Shot Sage Blue Marilyn,” was sold for $195 million to an unidentified buyers during Christie’s at New York, making it the highest value ever paid for an American work of art sold at auction.

In the spring of this year this year, the second collection of modern and contemporary art that belonged to the Real estate magnate Harry Macklowe and his former wife Linda Macklowe helped Sotheby’s achieve an all-time record for the sale of an art collection that was privately owned in auction for $922 million.

In 2018, the collection from David as well as Peggy Rockefeller set a high of $833 million to be one of the largest private collections that was sold at auction, exceeding the $443 million figure (revised at the end of the year 2013) of the Yves Saint Laurent collection in 2009.

One of the most notable pieces of the Allen estate to be put up available for sale is Jasper Johns’ acrylic-and-paper collage “Small False Start” (1960) that is believed to fetch over $50 million along with the work of Paul Cezanne’s “La Montagne Sainte-Victoire” (1888-90) which is estimated at over $100 million. However, there are a number of classic masters. Additional details about exactly what works will be available weren’t made readily available.

“This is an extremely focused vision,” Alex Rotter the chair of Christie’s department specializing in the sale of 20th- and 21st century art, said regarding Allen’s art collection. “Landscape and figuration are definitely dominant.”

Allen who co-founded Microsoft Corp. with Bill Gates and Bill Gates, was bitten by the artistic bug after becoming fascinated by J.M.W. Turner’s dreamy seascapes and Lichtenstein’s pop painting during visiting the Tate Britain in London.

Allen pursued his passion for artwork with the same enthusiasm in music that he did; at the age of 2000, Allen created The Experience Music Project which is currently it’s the Museum of Pop Culture -in which he showcased artifacts like the guitars of Jimi Hendrix in a Seattle structure created in the style of Frank Gehry.

Allen donated works to major galleries and museums, supplying exhibitions with his personal collection. The exhibit “Seeing Nature,” organized by the Portland Art Museum as well as The Seattle Art Museum along with Paul G. Allen Family Collection Paul G. Allen Family Collection in 2016, featured artworks from Vincent van Gogh, Edward Hopper and Gustav Klimt. The most notable piece was Jan Brueghel’s 17th-century allegorical works that depicted the 5 senses.

“To live with these pieces of art is truly amazing,” Allen said to Bloomberg in 2015. “I feel that you should share some of the works to give the public a chance to see them.”

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“Double Take: From Monet to Lichtenstein,” shown at the museum’s pop-culture collection in 2006, featured impressionist pieces with classic masters as well as contemporary and modern pieces. Van Gogh’s1888 “Orchard With Peach Trees in Blossom” was juxtaposed with Max Ernst’s 1940 “Landscape With Lake and Chimeras” as well as the Willem de Kooning 1975 abstract with no title was juxtaposed with Monet’s 1919 “Water Lilies.”

Allen was also adamant about art as an investment that was worth it. When he was at Christie’s in 2016 he was the anonymous purchaser of Monet’s 1891 painting of a haystack. The price was $81.4 million, which was at the time a record auction as per Bloomberg.

The in the year before, he also sold the artwork depicting an American fighter plane roaring through skies by Gerhard Richter for $25.6 million which was more than what $11.2 million he had paid prior to that. Moreover, In 2014, he bought an original Mark Rothko painting for $56.2 million. He previously paid $34.2 million back in the year 2007.

Allen has made it a goal to the introduction of culture to Seattle partly as an attempt to make art more accessible to many more people. Allen started his Seattle Art Fair at the stadium that plays football in the city which is where Seattle Seahawks, the team of the NFL’s Seattle Seahawks, which Allen also owned. His investment firm, Vulcan, also commissioned public-art projects throughout the city as well as assisted local artists.

“Paul truly understood the power and significance of art and was always happy to share that experience with others,” Jody Allen the administrator of the Paul G. Allen Estate made a statement in an announcement. “I am very pleased to have this unparalleled collection in the hands of Christie’s world-class operation to lead its safe passage to new collectors around the world.

 

This year the second cache of contemporary and modern art belonging to the real estate magnate Harry Macklowe and his former wife Linda Macklowe helped Sotheby’s achieve the record-breaking sale of an art collection that was privately owned at auction: $922 million.

The treasures from David as well as Peggy Rockefeller set a high of $833 million to be their most expensive private collection that was sold at auction. This was more than the total of $443 million (revised to $443 million in the year 2013) of the Yves Saint Laurent collection in 2009.

One of the most notable artworks of the Allen estate to be put up available for sale is Jasper Johns’ acrylic-and-paper collage “Small False Start” (1960) which is estimated to fetch greater than $50 million as well as the work of Paul Cezanne’s “La Montagne Sainte-Victoire” (1888-90) estimated to fetch over $100 million. However, there are a number of older masters. Additional details about exactly what works will be available were not made available.

“This is an extremely focused vision,” Alex Rotter Chair of Christie’s department specializing in the sale of 20th- and 21st century art, said about Allen’s collections. “Landscape and figuration are definitely dominant.”

Allen was the co-founder of Microsoft Corp. with Bill Gates who was the co-founder of Microsoft Corp., caught the artistic bug after becoming attracted by J.M.W. Turner’s dreamy seascapes and Lichtenstein’s pop painting during visiting the Tate Britain in London.

Allen pursued his love of artistic endeavors with the same enthusiasm that he had for music. at the age of 2000, Allen created The Experience Music Project which is which is now known as known as the Museum of Pop Culture -in which he showcased artifacts like guitars owned by Jimi Hendrix in a Seattle structure that was designed for Frank Gehry.

Allen donated works to major galleries and museums, filling exhibitions with his personal collections. The show “Seeing Nature,” organized by the Portland Art Museum and The Seattle Art Museum along with The Paul G. Allen Family Collection in 2016 included works of Vincent van Gogh, Edward Hopper and Gustav Klimt. The most notable piece was Jan Brueghel The Younger’s 17th-century allegorical works with the senses of five.

“To live with these pieces of art is truly amazing,” Allen said to Bloomberg in the year 2015. “I feel that you should share some of the works to give the public a chance to see them.”

Double Take Double Take: Between Monet through Lichtenstein,” presented at the museum of pop culture in 2006 the exhibition juxtaposed impressionist work with modern masters, old masters and contemporary art. Van Gogh’s painting of 1888 “Orchard With Peach Trees in Blossom” was juxtaposed with Max Ernst’s 1940 “Landscape With Lake and Chimeras” as well as the Willem de Kooning abstract of 1975 that was not titled was paired with Monet’s 1919 “Water Lilies.”

Allen has also considered art to be an investment worth making. When he was at Christie’s in 2016, he was an anonymous purchaser of Monet’s 1891 painting of a haystack. The price was $81.4 million, which was at the time a record for auctions as per Bloomberg.

The same year, he also sold the artwork depicting an American fighter plane roaring through skies by Gerhard Richter for $25.6 million which was more than that of the $11.2 million he was paid prior to that. Moreover, the year 2014 saw him bought an untitled Mark Rothko painting for $56.2 million. He was able to pay $34.2 millions in 2007.

Allen was adamant about the introduction of culture to Seattle and other cities, in part as an effort to open up art to many more people. Allen started his Seattle Art Fair at the city’s stadium for football that is which is home to Seattle Seahawks, the team of the NFL’s Seattle Seahawks, which Allen also owned. His investment firm, Vulcan, also commissioned public art projects in the city, and helped local artists.

“Paul truly understood the power and significance of art and was always happy to share that experience with others,” Jody Allen who is executor for the Paul G. Allen Estate released an announcement. “I am very pleased to have this unparalleled collection in the hands of Christie’s world-class operation to lead its safe passage to new collectors around the world.”

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