Sotheby's New York Presents $1 BILLION IN MODERN AND CONTEMPORARY ART

Rhea-AI Summary

Sotheby's New York has unveiled its May auction week, featuring around $1 billion in modern and contemporary art, mirroring the record-breaking November auction. The spotlight will be on The Macklowe Collection, expected to yield significant sales with 30 masterworks including pieces by Andy Warhol and Mark Rothko. Other key auctions include the Modern Evening Auction and The Now Sale, showcasing a diverse array of artists with a focus on women artists representing 60% of offerings.

Positive

• Total estimated sales of nearly $1 billion for May auction week.
• The Macklowe Collection includes high-value works, enhancing Sotheby's reputation.
• Significant representation of women artists in The Now Sale, reflecting market trends.

Negative

• None.

Including:

The Macklowe Collection
30 Masterworks from The Most Important Collection of Its Kind

The Modern Evening Sale
Among the Most Valuable Ever Staged

Contemporary Evening Sale
Including Standout Offering of Works by German Artists,
Led by Highest Estimated Work by Georg Baselitz ever to come to Auction

The Now Sale
In which Women Artists Outnumber Male Counterparts

NEW YORK, May 6, 2022 /PRNewswire/ -- As the art market readies itself for the biggest season it has ever seen, the full complement of Sotheby's May auction week is today unveiled to the public in its entirety in Sotheby's New York Galleries.

Carrying a combined estimate in the region of $1 billion— on a par with last November's record-breaking season –  the exhibition and sales will be anchored by a dedicated evening sale of 30 masterworks from The Macklowe Collection - one of the greatest collections of any kind ever to come to the market. A previous sale of works from this collection – held at Sotheby's New York last November – realized a record-breaking total of $676.6m, making it the most valuable single owner sale ever staged. This season's offering is no less exciting, featuring important works by Gerhard Richter, Mark Rothko, Andy Warhol, Sigmar Polke, Willem de Kooning, and many more. Highlights include:

• A monumental Self-Portrait by Andy Warhol (estimate $15/20 million). Painted in 1986, just months before Warhol's death in February 1987, this larger-than-life portrait has only been exhibited twice before.
• An important & previously unseen work by Mark Rothko from 1960, a critical year for the artist (estimate $35/50 million).
• Gerhard Richter's spectacular large-scale Seestück (Seascape) (estimate $25/35 million), an ethereal work which captures aspects of Richter's photo based paintings and anticipates his abstract tendencies.

The sale of The Macklowe Collection will be followed, the next day, but Sotheby's Modern Evening Auction – among the most valuable sales of its kind ever staged by Sotheby's.  The sale will include:

• A groundbreaking portrait of Marie-Thérèse Walter by Pablo Picasso completed in 1932 making its auction debut (estimate in Excess of $60m)
• One of Claude Monet's Finest Works depicting Venice (estimated in the region of $50 million)
• Expressionist Masterpiece Nile, by Philip Guston (estimate $20/30m – the highest ever for a work by the artist)
• Clairière (The Glade), one of the largest landscapes ever painted by father of modern art, Paul Cézanne (estimate $30/40 million). 

The Now  and Contemporary  Evening Auctions will cap off the week's marquee offerings. The former marks a watershed market moment for women artists, who – along with their counterparts later in the sale – represent an unprecedented 60% of the total offering. The Contemporary sale, meanwhile, will shine a spotlight on the work of one of Germany's most celebrated living artists, Georg Baselitz, with an offering of four major works, none of which has appeared on the market before. Among them is Falle [Trap], one of the artist's celebrated 'Hero' paintings, which carries an estimate of $8-12m - higher than any ever put on a work by the artist.

 Further highlights across the two sales include:

• A Pope painting by Francis Bacon, first unveiled at the artist's landmark 1971 retrospective (estimate $40/60 million)
• A silkscreen of Elvis by Andy Warhol from 1963 (estimate $15/25 million), a historic paradigm of Pop Art created one year after Warhol had perfected his quintessential silk screen technique. 
• The dynamic 'Beauty Examined' by Kerry James Marshall, sold to Benefit Loma Linda University (estimate $8/12 million).
• Ed Ruscha's tribute to his beloved California; 'Cold Beer Beautiful Girls' (estimate $15/20 million), an exemplary of the artist's archetypal text paintings.
• Cy Twombly's 'Untitled' from 1969 (estimate $40/60 million), a large-scale work which marked the artist's return to New York and subsequent shift to his signature monochromatic style.
• 'Birmingham' by Simone Leigh, Golden Lion winner at this year's Venice Biennale (estimate $150,000-$200,000)

The works will be on public view in Sotheby's New York galleries beginning this Friday, 6 May. See here for further details

 

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SOURCE Sotheby's

FAQ

What is the estimated value of Sotheby's May auction week?

The estimated value of Sotheby's May auction week is around $1 billion.

What notable collections are featured in Sotheby's upcoming auctions?

The Macklowe Collection, alongside the Modern Evening Auction and The Now Sale, are notable collections featured.

What percentage of works are by women artists in The Now Sale?

In The Now Sale, women artists represent 60% of the total offerings.

When will The Macklowe Collection be auctioned?

The Macklowe Collection will be auctioned during Sotheby's May auction week, beginning on May 6, 2022.

Which famous artists are included in The Macklowe Collection?

The Macklowe Collection includes works by Andy Warhol, Mark Rothko, Gerhard Richter, and more.