Microsoft’s Co-founder Paul Allen’s Art holdings sold for a record $1.5 Billion

Paintings and sculptures possessed by late Microsoft co-founder Paul Allen have been sold for a record $1.5 billion. According to the auction house- Christie’s, this was the biggest art auction in history.

microsoft-paul-allen-art-sold-by-christies-1.5-billion
Christies

The auction house conveyed that works by Vincent van Gogh, Georges Seurat, Paul Gauguin, Paul Cezanne, and Gustav Klimt each dealt for more than $100 M, smashing individual records for those artists.

The proceeds from the sale will be presented to charities backed by Allen before his death in 2018.

Christie’s reveals that the most costly piece of art bought was Seurat’s 1888 work Les Poseuses, Ensemble (small version), a well-known work of pointillism, which brought $149.2 M, including fees.

Experts convey the super wealthy are viewing art as a safe investment amid a turbulent global economy and Russia’s war in Ukraine.

Other record-breaking works contained Van Gogh’s Orchard with Cypresses, which fetched $117.2 M; Gauguin’s Maternity II, which dealt for $105.7 M; and Klimt’s Birch Forest, which went for a whopping $104.6 M.

In addition, paintings from Georgia O’Keefe, Claude Monet, David Hockney, Andrew Wyeth, and Pablo Picasso were also marketed, along with sculptures by Alexander Calder & Max Ernst.

The total value of the collection has already hit the record set earlier this year, for the Macklowe collection, held by a wealthy New York couple that sold for $922 M.

You may find this useful: Christie’s Auction House goes On-chain with the new Ethereum NFT Marketplace


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