In Harry and Linda Macklowe’s famously bitter divorce, a new battle is playing out.
Auction houses Sotheby’s, Christie’s and Phillips have all been invited to submit pitches to determine who will sell the couple’s valuable art collection, after a judge in their divorce proceedings ordered it be liquidated.
It is unclear exactly when the auction will be held. However, a fresh round of major auctions is reportedly slated for May.
“It will be a fun event in the spring,” Josh Schiller, a partner at Boies Schiller & Flexner who represents Harry Macklowe, told Bloomberg.
Read more
Commercial
New York
“And so it ends”: Macklowe fortune now in judge’s hands
Popular
New York
Linda Macklowe can hold on to her $700M art collection — at least for now
Commercial
New York
Macklowe vs. Macklowe: Courtroom tales from real estate's biggest divorce
The auction comes at a crucial time in the fine-art market, after 2019 saw a decline in high-end art sales at auction.
The decision to sell the works followed an order from New York State Supreme Court Justice Laura Drager, who is handling the proceedings, after the couple couldn’t agree on the value of the works.
The collection includes works by Andy Warhol, Jeff Koons and Willem de Kooning. [Bloomberg] — Sylvia Varnham O’Regan