Rockefeller auction: Blockbuster art sale set to rake in more than $1 billion

1/13

A blockbuster auction of the dazzling art collection of banking and oil tycoon David Rockefeller, who died last year aged 101, was today on course to be the first to smash the $1 billion (£739 million) barrier after a succession of record-breaking sales.

A remarkable session last night focused on 19th- and 20th-century art — the first of three days of bidding at Christie’s New York headquarters — fetched $646 million (£478 million) compared with a pre-sale estimate of $490 million. A rare Picasso from his brief “Rose Period” achieved the highest single bid, selling for $115 million, with fees, to an unknown buyer.

The work, Fillette à la Corbeille Fleurie or Young Girl With Basket of Flowers, was bought by the billionaire from writer Gertrude Stein’s estate for less than $1 million in 1968. It was originally picked up for just $30 by Stein’s brother Leo in 1905 shortly after it was painted.

The so-called “white glove” auction — meaning that every lot on offer found a buyer — set a new high for a single-session, single-owner sale, smashing the $226.7 million (£167.5 million) raised in Paris in February 2009 by the Impressionist and Modern Art collection of designer Yves Saint Laurent. Other high points included Henri Matisse’s 1923 Odalisque Couchée aux Magnolias, a painting of a reclining nude, which went for $80.8 million — against an estimate of $70 million — a new auction record for the artist.

An all-time auction high was also set for Claude Monet’s Nymphéas en Fleur (Water Lilies in Bloom, 1914-17), which fetched $84.6 million against an estimate of $70 million. In total records were set for seven artists.

Proceeds from the sale will go to 12 charities selected by Mr Rockefeller and his family. Experts said it represented the break-up of the life obsession of the “last of the tycoon collectors”.

15 paintings to see in London

1/15

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in