Christie's to auction Paul Allen's art trove, valued at $1B+

By AP News

Share:

In this article

  • Loading...
  • Want to see what you should be buying? Check out our top picks.

NEW YORK (AP) — Some 150 artworks from the collection of Microsoft co-founder Paul G. Allen will be auctioned at Christie's in New York this fall and are expected to bring in more than $1 billion in total, Christie's and Allen's estate announced Friday.

NEW YORK (AP) — Some 150 artworks from the collection of Microsoft co-founder Paul G. Allen will be auctioned at Christie's in New York this fall and are expected to bring in more than $1 billion in total, Christie's and Allen's estate announced Friday.

The works to be auctioned span 500 years of art history from Old Masters to the giants of modern art, Christie's said, adding that all proceeds will go to philanthropy.

Allen, who co-founded Microsoft with his childhood friend Bill Gates, died from complications of non-Hodgkin’s lymphoma in 2018. In his lifetime he gave more than $2 billion to causes including ocean health, homelessness and advancing scientific research.

Highlights of the upcoming sale include Paul Cézanne's “La Montagne Sainte-Victoire,” completed in 1890 and estimated to sell for more than $100 million, and Jasper Johns' “Small False Start” from 1960, estimated at $50 million. Other details of the artworks to be auctioned were not released.

Guillaume Cerutti, Christie’s chief executive officer, said in a statement, “The inspirational figure of Paul Allen, the extraordinary quality and diversity of works, and the dedication of all proceeds to philanthropy, create a unique combination that will make the sale of the Paul G. Allen Collection an event of unprecedented magnitude.”

Jody Allen, Allen's sister and the executor of his estate, said, “These works mean so much to so many, and I know that Christie’s will ensure their respectful dispersal to generate tremendous value for philanthropic pursuits in accordance with Paul’s wishes.”

Share:

In this article:

Industries:
Consumer Discretionary
Information Technology
Companies:
Microsoft

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for VTM Updates

Form submitted successfully!

VTM Exclusive Reports

Crypto Corner

Learn your NFTs from your BTCs