The LA Times reports that LACMA supporters Jane and Marc Nathanson are paring their collection as they move more toward Pop Art. The shift is playing in Sotheby’s favor as Lisa Dennison arranged the consignment that is estimated in the $12-17m range:
Among the works the Nathansons are selling is Richard Diebenkorn’s painting “Ocean Park #20,” which the auction house estimates will go for between $9 million and $12 million. The painting is an early work from the Diebenkorn series created after the artist moved to Santa Monica.
Sotheby’s said the painting was sold at auction in 1987 for $231,000, but it was not purchased by the Nathansons.
Marc Nathanson said in a phone interview that they purchased the painting from an L.A. dealer in 1988. He declined to disclose how much they paid, except to say that it was less than the $231,000. […]
The other works the couple is selling are a Richard Serra piece titled “Four Plates Up” — a large-scale sculpture whose sales estimate is between $2.5 million to $3.5 million; and an untitled canvas by Sam Francis from 1979 that is estimated to go for between $800,000 and $1.2 million