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Untitled (1960) by Mark Rothko is included in the second part of Sotheby's historic auction of the Macklowe Collection. To the left is Diego sur stèle II (1958) by Alberto Giacometti and Pablo Picasso’s Jeune homme (1958) (right) which were also included in the May 16 sale.
Photo: Courtesy of Sotheby's

Record-Breaking Macklowe Auction Brings in More Than $920 Million

The Sotheby’s sale on May 16 featured works by Andy Warhol, Mark Rothko, Roy Lichtenstein, Agnes Martin, and Donald Judd

Works by Andy Warhol and Sigmar Polke during the May 16 live sale of the Macklowe Collection at Sotheby's. Photo: Courtesy of Sotheby's

In recent weeks, the art and design market has been booming with new records being set in almost every category. Auction houses have seen works by talents such as Andy Warhol, Man Ray, and Jean Prouvé achieving record sums. Now, Sotheby’s has set a new benchmark for an entire collection, with the May 16 live sale of the remaining 30 pieces from the holdings of Linda and Harry Macklowe bringing $246.1 million. Added to the $676.1 million achieved in the November 2021 sale, the Macklowe Collection’s cumulative $922.2 million sale price makes it the most valuable collection ever sold in auction history.

“The record setting sale of the Macklowe Collection represents a landmark and historic event in the art market, and we are delighted to deliver such an outstanding result —testament to the quality of the collection assembled over several decades of dedicated pursuit,” Charles F. Stewart, Sotheby’s Chief Executive Officer said in a statement.

Gerhard Richter, Seestrück (Seascape), which sold for $30,198,500 during Sotheby's May 16 sale of the Macklowe Collection. Photo: Courtesy of Sotheby's

Sold over two white-glove live auctions, the Macklowe Collection featured a combined 65 lots, all of which found a buyer. Last night’s live sale featured 30 works, more than half of which exceeded their high estimate. Helmed by Sotheby’s Chairman and Auctioneer Oliver Barker, the event saw intense bidding on multiple pieces with a previously unseen “Untitled” canvas by Mark Rothko, Gerhard Richter’s Seestück (Seascape), and Andy Warhol’s camouflage-colored Self Portrait the top lots.

Art  +  Culture

Historic Macklowe Auction at Sotheby’s Achieves $676.1 Million

“Across both sales, works by the biggest names in Modern and Contemporary art proved that the top end of the market remains exceptionally strong, and that collector confidence is high,” Mari-Claudia Jiménez, Sotheby’s Chairman, managing director & worldwide head of business development for global fine art, said in a statement. “When quality is brought to the market, that quality continues to drive top results.”

See below for more of the evening’s top lots. 

View Slideshow

Macklowe Auction at Sotheby’s Achieves History-Making Benchmark

Cover: Untitled (1960) by Mark Rothko is included in the second part of Sotheby's historic auction of the Macklowe Collection. To the left is Diego sur stèle II (1958) by Alberto Giacometti and Pablo Picasso’s Jeune homme (1958) (right) which were also included in the May 16 sale.
Photo: Courtesy of Sotheby's

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