Historic Macklowe Auction at Sotheby’s Achieves $676.1 Million

Toppling the record for a single-owner auction, the November 15 sale saw works by Twombly, Rothko, Pollock, and Giacometti achieve more than $50 million each

Art auction at a gallery with a large audience, paintings displayed, auctioneers standing at the podium.
Sotheby’s November 15 auction of the Macklowe Collection. Photo: Courtesy of Sotheby's

Even at the time of its announcement, Sotheby’s sale of the massive collection of Linda and Harry Macklowe was predicted to be a historic event. But when the final hammer dropped last evening, a new world record had been set for a single-owner auction, with pre-sale estimates being far exceeded for a number of major museum-caliber works and new benchmarks set for a several already highly sought-after talents.

“The Macklowe Collection is a compendium of masterpieces like no other,” Brooke Lampley, Sotheby’s chairman and worldwide head of sales for global fine art, said in a statement. “Its visceral and intellectual power proved completely irresistible to collectors the world over.”

Abstract painting with large rectangular blocks of yellow, orange, and pink, creating a vibrant and harmonious composition.
Mark Rothko, No.7, 1951, which brought $82,468,500 at Sotheby’s sale of the Macklowe Collection. Photo: Courtesy of Sotheby's

The sale of 35 works brought in a total of $676.1 million, topping the final tally achieved in Christie’s 2018 sale of the collection of the late David Rockefeller, which garnered $646,498,750 for a selection of 19th- and 20th-century masterpieces by Henri Matisse, Pablo Picasso, Jasper Johns, and Georges Seurat, among others. In the Macklowe sale, Mark Rothko’s No. 7 (1951) was the evening’s top lot, achieving $82,468,500—the second highest price ever for a work by the artist.

“The tour de force that is Mark Rothko’s No. 7 was a bedrock of the Macklowe Collection,” says Gregoire Billault, Sotheby’s chairman for contemporary art. “A perfect symphony of color, light and scale, this painting stands shoulder to shoulder with the greatest works the artist ever painted.”

Abstract bronze sculpture within a metal frame, featuring elongated shapes resembling a head and arm reaching outward.
Alberto Giacometti, Le Nez, 1947, which achieved $78,396,000 in Sotheby’s sale of the Macklowe Collection. Photo: Courtesy of Sotheby's

The Rothko was one of four works to bring more than $50 million; also exceeding the $50 million mark were Alberto Giacometti’s Le Nez (1947)—just one of eight examples of this work created; three of which are in private hands—a 2007 Untitled work by Cy Twombly, and Number 17 (1951) by Jackson Pollock, that set a new auction record for the artist when it sold for $61,161,000.

“The Macklowe Collection charts the evolution of painting over the last 80 years, but it is with these powerful works by Giacometti and Picasso that the conversation really starts,” said Helena Newman, Sotheby’s chairman, Europe, worldwide head of Impressionist and modern art.

Abstract artwork featuring horizontal pastel blue and white stripes arranged in a grid pattern on a white background.
Agnes Martin’s Untitled #44 sold for $17,728,800, far exceeding its $6 to $8 million presale estimate. Photo: Courtesy of Sotheby's

While approximately 300 viewers were seated in Sotheby’s gallery during the sale, bidders from 25 countries participated, driving up prices and helping set new auction prices for works by Agnes Martin, Robert Irwin, and Michael Heizer. Two works by Andy Warhol were in the list of night’s top achievers—Nine Marilyns (1962) and Sixteen Jackies (1964), the latter selling for close to $34 million, far exceeding it’s pre-sale estimate of $15 to $20 million. Also bringing staggering sums were Pablo Picasso’s Figure (Project pour un monument à Guillaume Apollinaire), Willem de Kooning’s Untitled XXXIII (1977), and Philip Guston’s Strong Light (1976).

Abstract metal wire sculpture with geometric shapes on a rectangular base.
Pablo Picasso, Figure (Project pour un monument à Guillaume Apollinaire) brought $26,278,000 during Sotheby’s sale of the Macklowe Collection. Photo: Courtesy of Sotheby's

“There is no question that the market raised its hands tonight, not just for masterworks, but in honor of the art of collecting at its highest level,” Mari-Claudia Jimenez, Sotheby’s chairman, managing director for global fine art, said in a statement.

Added the evening’s auctioneer, Oliver Barker, Sotheby’s chairman, Europe, Tonight, I felt a real synergy with the works we were offering. Each one of them marked a highpoint in the artist’s career, just as the sale marked an unsurpassable highpoint in mine.”

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Historic Macklowe Auction at Sotheby’s Achieves $676.1 Million

The evening’s top lot was Mark Rothkou2019s No. 7 (1951), which brought $82,468,500 at Sotheby’s sale of the Macklowe Collection.

Photograph by Courtesy of Sotheby's

Alberto Giacometti, Le Nez, 1947, which achieved $78,396,000 in Sotheby’s sale of the Macklowe Collection. Only one of three in private hands, no other example has ever come to auction.

Photograph by Courtesy of Sotheby's

When it sold for $61,161,000, Jackson Pollock’s Number 17 (1951) set a new auction record for the artist.

Photograph by Courtesy of Sotheby's

Making its auction debut, Cy Twombly, Untitled, 2007 was one of four works in Sotheby’s Macklowe Collection sale to achieve more than $50,000,000, selling at $58,863,000. The work is one of six canvases from the artist’s series u201cA Scattering of Blossoms.u201d

Photograph by Courtesy of Sotheby's

Andy Warhol, Nine Marilyns, 1962 sold foru00a0$47.3 million.

Photograph by Courtesy of Sotheby's

Andy Warhol, Sixteen Jackies, 1964 far exceeded its $15,000,000 to $20,000,000 pre-sale estimate, realizing $33,872,250.

Photograph by Courtesy of Sotheby's

Gerhard Richter, Abstraktes Bild, 1993 sold for $33,010,500 right at the high end of its $20,000,000 – $30,000,000 estimate.

Photograph by Courtesy of Sotheby's

Pablo Picasso, Figure (Project pour un monument u00e0 Guillaume Apollinaire), brought $26,278,000.

Photograph by Courtesy of Sotheby's

Willem de Kooning, Untitled XXXIII, 1977 sold for $24,393,000, almost double its $12,000,000 low estimate.

Photograph by Courtesy of Sotheby's

Philip Guston, Strong Light, 1976 sold for $24,393,000, far surpassing its $8,000,000 – $12,000,000 estimate.

Photograph by Courtesy of Sotheby's

Michael Heizer, Track Painting, 1967 sold for $1,109,000.

Photograph by Courtesy of Sotheby's

Robert Irwin, Untitled, 1965-66, achieved $8,331,600 far surpassing its $4,000,000 to $6,000,000 pre-sale estimate.

Photograph by Courtesy of Sotheby's

Sigmar Polke, Rasterbild mit Palmen, 1966, sparked a bidding war during a five-minute sale sending the price far above its $8,000,000 to $12,000,000 estimate. When the hammer dropped at $21,520,500, it was the second highest price for the artist.

Photograph by Courtesy of Sotheby's

Five bidders competed for Agnes Martin’s Untitled #44, driving the price to more than double its $8 million high estimate, achieving $17,728,800.

Photograph by Courtesy of Sotheby's
Abstract painting with large rectangular blocks of yellow, orange, and pink, creating a vibrant and harmonious composition.
Abstract bronze sculpture within a metal frame, featuring elongated shapes resembling a head and arm reaching outward.
Abstract painting with dynamic black splatters and drips on a beige canvas, creating a chaotic and energetic composition.
Abstract painting of vivid red poppies with dripping paint effect on a light green background
Pop art piece featuring nine black and white images of the same woman arranged in a 3x3 grid pattern.
Pop art collage of a woman in various colors and poses, featuring dark and light contrasts with repeated patterns.
Abstract painting with vibrant red, green, and blue brushstrokes creating a textured, layered effect.
Abstract metal wire sculpture with geometric shapes on a rectangular base.
Abstract painting with bold red and soft pink brushstrokes, featuring dynamic textures and splashes of black and white.
Colorful abstract painting with blocks and light bulb hanging above, featuring geometric shapes and vibrant patterns.
Abstract artwork showing a long black oval with a white central elongated oval against a solid black background.
Abstract art with a subtle gradient from white to soft pink in the center, creating a minimalist and tranquil effect.
Artwork featuring abstract dotted patterns with hints of palm trees and a desert landscape.
Abstract artwork featuring horizontal pastel blue and white stripes arranged in a grid pattern on a white background.
Abstract painting with large rectangular blocks of yellow, orange, and pink, creating a vibrant and harmonious composition.
Abstract bronze sculpture within a metal frame, featuring elongated shapes resembling a head and arm reaching outward.
Abstract painting with dynamic black splatters and drips on a beige canvas, creating a chaotic and energetic composition.
Abstract painting of vivid red poppies with dripping paint effect on a light green background
Pop art piece featuring nine black and white images of the same woman arranged in a 3x3 grid pattern.
Pop art collage of a woman in various colors and poses, featuring dark and light contrasts with repeated patterns.
Abstract painting with vibrant red, green, and blue brushstrokes creating a textured, layered effect.
Abstract metal wire sculpture with geometric shapes on a rectangular base.
Abstract painting with bold red and soft pink brushstrokes, featuring dynamic textures and splashes of black and white.
Colorful abstract painting with blocks and light bulb hanging above, featuring geometric shapes and vibrant patterns.
Abstract artwork showing a long black oval with a white central elongated oval against a solid black background.
Abstract art with a subtle gradient from white to soft pink in the center, creating a minimalist and tranquil effect.
Artwork featuring abstract dotted patterns with hints of palm trees and a desert landscape.
Abstract artwork featuring horizontal pastel blue and white stripes arranged in a grid pattern on a white background.