Divorce Art Auction Raises $ 676 Million in New York

Paintings and sculptures by famous artists including Andy Warhol and Jackson Pollock were sold at auction in New York.

The collection raised more than $ 676 million (£ 503 million) at auction on Monday.

The 35 pieces belonged to real estate tycoon Harry Macklowe and his ex-wife Linda. The couple were told to sell the collection and split the proceeds during the 2018 divorce process.

Another 35 works of art will go up for auction next year.

Items for sale included “No 7,” a painting by Mark Rothko that sold for $ 82.5 million, the second highest price for a work by the artist.

It is unclear who the buyer was, but according to Reuters news agency, there have been sour offers among people representing Asian customers.

“Number 17, 1951”, a piece by Jackson Pollock, grossed $ 61.2 million.

Andy Warhol’s “Nine Marilyn’s” screenprint, made shortly after the death of actress Marilyn Monroe, earned $ 48.5 million.

The collection was estimated at $ 400 million and had toured several locations including Taipei, Hong Kong, Paris and London before returning to New York.

Art dealer Andrew Fabricant told the New York Times that Linda Macklowe was the main collector and that he had sold her many pieces that went up for auction on Monday.

“Every single work here is subtle and unique,” he said.

The couple got a divorce last year after 59 years together. The couple could not agree on the value of the works of art and so a judge appointed an administrator for supervise the sale of objects.