{"id":46237,"date":"2022-11-11T18:56:19","date_gmt":"2022-11-11T23:56:19","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=46237"},"modified":"2024-03-08T00:57:50","modified_gmt":"2024-03-08T05:57:50","slug":"paul-allen-collection-part-i-christies","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2022\/11\/paul-allen-collection-part-i-christies\/","title":{"rendered":"The Paul Allen Collection Part I at Christie’s New York"},"content":{"rendered":"
\"Les<\/a>

Les Poseuses, Ensemble<\/em> by Georges Seurat<\/p><\/div>\n

On Wednesday, November 9th, Christie\u2019s New York hosted what was expected to be the most valuable single collection ever sold at auction, that of Microsoft co-founder Paul Allen. Previously, that title was held by Harry and Linda Macklowe. They sold their collection of modern and contemporary art <\/span>at Sotheby\u2019s New York<\/span><\/a> for $922M w\/p across a pair of evening sales on November 15, 2021 and May 16, 2022. Not only was the Allen collection set to break that record, but Wednesday\u2019s sale, the first of two, was also expected to break the record for the most expensive single auction in history. Until Wednesday, that record was held by Christie\u2019s New York when their <\/span>postwar and contemporary evening sale<\/span><\/a> brought in $744.9M w\/p. The first night of the Paul Allen collection smashed all those records.<\/span><\/p>\n

\"La<\/a>

La Montagne Sainte-Victoire<\/em> by Paul C\u00e9zanne<\/p><\/div>\n

The sale began with a burst of energy with <\/span>Quatre Baigneuses<\/span><\/i><\/a> by Pablo Picasso. The auctioneer, Adrian Meyer, spent the first fifteen seconds speaking so quickly, acknowledging every bid coming in, that he sounded as if he was moderating a livestock auction in Texas rather than a fine art saleroom in New York. The sale\u2019s top lots were what exactly the Christie’s specialists were anticipating. The star in first place was <\/span>Les Poseuses<\/span><\/i> by the pointillist master Georges Seurat, described by Meyer as perhaps one of the finest pointillist paintings ever created. It was last sold at auction in June 1970 at Christie\u2019s London, where it achieved $1.03M w\/p. Most people will mainly know Seurat from his incredibly popular <\/span>Sunday on the Isle of La Grande Jatte<\/span><\/i><\/a>, housed at the Art Institute of Chicago. In case you needed that reminder, <\/span>Les Poseuses<\/span><\/i> shows nude models in the artist\u2019s studio with the famous park scene on the wall in the background. The bidding started at $75M and, within thirty seconds, made its way up to $100M. Over the next five minutes, bids slowly trickled in from the telephone banks until the hammer came down at $130M (or $149.2M w\/p). This completely smashed Seurat\u2019s auction record, which was previously set at Sotheby\u2019s New York in 1999, when <\/span>Paysage, l’\u00cele de la Grande-Jatte<\/span><\/i> sold for $35.2M w\/p. Second place, however, was what the experts predicted would be the true star of the sale. Paul C\u00e9zanne\u2019s <\/span>Montagne Sainte-Victoire<\/span><\/i> was used extensively in the sale\u2019s promotion, understandably so. It was last sold at auction in May 2001 at Phillips New York for $38.5M w\/p. While it may have been slightly overshadowed by the Seurat painting, $120M (or $137.8M w\/p) is still an impressive hammer price, especially since the bidding only lasted a grand total of ninety seconds. And lastly, the third lot to sell for over $100M, the 1888 Vincent van Gogh work <\/span>Verger avec cypr\u00e8s.<\/span><\/i> While Adrian Meyer made a point to highlight that the Seurat painting had not been up at auction in over fifty years, the last time that the Van Gogh sold was in December 1935. It\u2019s one of the last of Van Gogh\u2019s orchard paintings to remain in private hands, so the hammer price of $102M (or $117.2M w\/p) was not unwarranted.<\/span><\/p>\n

\"Verger<\/a>

Verger avec cypr\u00e8s<\/em> by Vincent van Gogh<\/p><\/div>\n

While the nineteenth-century European modernist masters were the ones that dominated the sale, they were by no means the only group represented. The auction also featured Old Masters like Botticelli and Brueghel<\/a> the Younger, the greats of abstract painting like Klee and Kandinsky, and surrealists like Dal\u00ed and Tanguy. While they all received their respective millions, there was a bit of a wake-up call halfway through the sale with Andrew Wyeth\u2019s painting <\/span>Day Dream<\/span><\/i>. Though created in 1980, the medium is incredibly old-fashioned. Wyeth chose tempera on panel to show a nude woman asleep and veiled by a sheer canopy hanging from somewhere unknown to the viewer. Though the medium is often associated with medieval art before oil paints became popular in the West, it remained in use among some twentieth-century artists like Wyeth and Thomas Hart Benson. <\/span>Day Dream<\/span><\/i> had previously been in the collection of the American businessman Armand Hammer and was displayed in his eponymous museum in Los Angeles until 2011. It was predicted by Christie’s to make a measly $3M at most. So even in an exciting, historic sale such as this, the fact that bids kept coming in for something relatively low-value for this sale made it only more exciting. The hammer eventually came down at $20M (or $23.3M w\/p), more than six times what it was expected to make.<\/span><\/p>\n

Ultimately, the first sixty items of Paul Allen\u2019s collection accrued a price tag some would describe as ludicrous, possibly even obscene, depending on your perspective. Even with over ninety lots left to be sold in the day sale, the collection has already smashed the record for the most expensive collection ever sold at auction. It also obliterated the record for the most expensive single auction in recorded history. Sixty paintings and sculptures brought in a total hammer price of $1.29 billion (or $1.5 billion w\/p), slightly above the $1.23 billion number that the house experts had given as their total presale high estimate.. All sixty lots sold, with thirty-five (or 58%) exceeding the estimates Christie\u2019s experts had assigned to them. With twenty-one lots selling within estimate and four selling below, Christie\u2019s house specialists earned a 35% accuracy rate that night. Safe to say that this was a historic night not just for Christie\u2019s but for the art market.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, November 9th, Christie\u2019s New York hosted what was expected to be the most valuable single collection ever sold at auction, that of Microsoft co-founder Paul Allen. Previously, that title was held by Harry and Linda Macklowe. They sold … More…<\/a><\/p>\n","protected":false},"author":6,"featured_media":46235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[384,146,91,207,134,20,653,15,88,107,120,11,9,204],"class_list":["post-46237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-19th-century-european","tag-19th-century-french","tag-20th-century-french","tag-auction-news","tag-auction-records","tag-auction-results","tag-cezanne","tag-comments-on-the-art-market","tag-french-impressionist","tag-landscapes","tag-modern-art","tag-rehs-contemporary-news","tag-rehs-galleries-news","tag-van-gogh"],"yoast_head":"\nThe Paul Allen Collection Part I at Christie's New York<\/title>\n<meta name=\"description\" content=\"On November 9th, Christie\u2019s New York sold the most valuable art collection ever brought to auction, that of Microsoft cofounder Paul Allen.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2022\/11\/paul-allen-collection-part-i-christies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Paul Allen Collection Part I at Christie's New York\" \/>\n<meta property=\"og:description\" content=\"On November 9th, Christie\u2019s New York sold the most valuable art collection ever brought to auction, that of Microsoft cofounder Paul Allen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2022\/11\/paul-allen-collection-part-i-christies\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-11T23:56:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-08T05:57:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2022\/11\/Ce\u0301zanne-Paul-La-Montagne-Sainte-Victoire-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"2047\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Scheer\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Scheer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2022\\\/11\\\/paul-allen-collection-part-i-christies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2022\\\/11\\\/paul-allen-collection-part-i-christies\\\/\"},\"author\":{\"name\":\"Nathan Scheer\",\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#\\\/schema\\\/person\\\/1d33fd182b28afdad8fc3548ffe6bdc4\"},\"headline\":\"The Paul Allen Collection Part I at Christie’s New York\",\"datePublished\":\"2022-11-11T23:56:19+00:00\",\"dateModified\":\"2024-03-08T05:57:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2022\\\/11\\\/paul-allen-collection-part-i-christies\\\/\"},\"wordCount\":969,\"publisher\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/rehs.com\\\/eng\\\/2022\\\/11\\\/paul-allen-collection-part-i-christies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rehs.com\\\/eng\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Ce\u0301zanne-Paul-La-Montagne-Sainte-Victoire-scaled.jpg\",\"keywords\":[\"19th Century European\",\"19th Century French\",\"20th Century French\",\"Auction News\",\"Auction Records\",\"Auction Results\",\"C\u00e9zanne\",\"Comments on the Art Market\",\"French Impressionist\",\"Landscapes\",\"Modern Art\",\"Rehs Contemporary - 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