November 10, 2022
This shows that for objects of this quality and rarity, people will spend whatever it takes to obtain them.
Andrew Fabricant, chief operating officer of Gagosian, “a global network of art galleries.” The art collection of Microsoft co-founder Paul Allen was auctioned off this week for more than $1.5 billion, making it the most expensive art auction in history.
About Paul Allen: Allen co-founded Microsoft in 1975 and began collecting valuable art – ranging from old masters to American modernism and impressionists pieces – in the 1980s. His auctioned collection included more than 150 pieces “Spanning 500 years of art history.” All proceeds will be donated to philanthropy. Allen passed away in 2018.
Why It Matters: Some of the pieces include famed works from Paul Cézanne, Georgia O’Keeffe, and Vincent Van Gogh, with five of the pieces selling for more than $100 million each. One art advisor stated, “To successfully execute high-value prices on a single lot is complex, but to replicate it multiple times like that has not been seen before.”
The Paul Allen Collection (Christies, the auction company)
Paul G. Allen’s Art at Christie’s Tops $1.5 Billion, Cracking Records (The New York Times)
Paul Allen’s Art Collection Sets Record With $1.5 Billion Sale (The Wall Street Journal)
by Jenna Lee,
