Paul Allen’s art collection could be valued as much as $1 billion when it heads to auction.
Key details
The late Microsoft co-founder is auctioning his private art collection this fall. The massive collection could bring in around $1 billion.
Auction company Christie’s announced on Thursday that it would be auctioning off 150 pieces from Allen’s collection. The art could be the most expensive collection Christie’s has handled.
Artwork is still being cataloged, so there isn’t a confirmed list yet, but Christie’s chairman Marc Porter has confirmed that two pieces, Jasper Johns’ 1960 “Small False Start” and Paul Cézanne’s 1888-90 “La Montagne Sainte-Victoire.”
Johns’ piece is expected to sell for $50 million and Cézanne’s for $100 million, The Wall Street Journal reported.
All proceeds from the auction will go to charity, though the charity has yet to be named. Before Allen’s 2018 passing, he made $2 billion in donations to organizations centered on biomedical research, culture, environmentalism, and homelessness.
Why it’s news
Art collectors tend to highly value pieces from noteworthy galleries, meaning Allen’s artwork could hold additional value.
When choosing his pieces, Allen prefered artwork that represented key points in the artist’s career. The Cézanne is an example of this, a piece showing the artists early experimentation with abstraction.
This action is on collector’s radars to see how Allen’s collection has appreciated in value. In the early 2000’s he paid millions for various pieces. Nearly 20 years later, collectors will be watching to see if the paintings have gained any value.
