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Microsoft Co-Founder Paul Allen's Art Collection Fetches $1.5 Billion
Posted
November 10, 2022
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0:40Now PlayingIn just two and a half hours on Wednesday evening, Christie’s auction house presided over the largest single-owner sale in history.
Drawn from the art collection of the late Microsoft co-founder Paul Allen, just 60 artworks sold for an unprecedented $1.5 billion. The auction carried a presale estimate of $1 billion to $1.38 billion. (The total includes auction house fees known as the buyer’s premium; the estimate does not.) Proceeds from the sale will go to philanthropy, according to executors of Allen’s estate.
As the sale began, the nervous energy in the room was palpable. Certain lots, including paintings by Lucian Freud, Gustav Klimt and Paul Cézanne, were expected to exceed their high estimates, but the spectacular valuations, with several at or above $100 million, guaranteed that there was no such thing as a surefire winner.
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