Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Summer Slump Brings Macklowe Art Speculation

July 26, 2016 by Marion Maneker

Marc Rothko - No.7 1951

It’s the depths of the Summer vacation for the art world even though some auction house personnel are scrambling to line up consignments for the Fall’s sales season.  With little else to do, idle minds turn toward speculation that the upcoming divorce of aged developer Harry Macklowe will provide much needed supply of high-quality works onto the market.

The real question is whether the legal wrangling will end with sale any time in the near future:

“They’re going to fight over everything. They’ve been fighting for 57 years.” […]

The source adds that the bitter feelings shared by the estranged couple go back to when Harry was forced to sell the jewel in his real estate crown, the General Motors Building, in 2008 as he sought to get out from a reported $7 billion in debt. The source said, “All the art and the marital property was in Linda’s name, and she refused to sell any of it to bail him out.” But another source countered, regarding the supposed marital disagreement over the GM Building sale, “That is completely untrue.”

With no prenup, real estate mogul and wife set for epic divorce battle (Page Six)

More from Art Market Monitor

  • Art Fund Seeks to Raise €50m as Art-as-Investment Falters in NY SalesArt Fund Seeks to Raise €50m as Art-as-Investment Falters in NY Sales
  • The Baer Faxt Invitational Golf Classic ~ Monday Sept. 10th
  • Do ‘Opaque Deals’ Threaten the Auction Houses’ Principles?Do ‘Opaque Deals’ Threaten the Auction Houses’ Principles?
  • Has Roy Lichtenstein’s Masterpiece Sold?Has Roy Lichtenstein’s Masterpiece Sold?
  • Sotheby’s Chooses Artsy As A One-Time Sales OutletSotheby’s Chooses Artsy As A One-Time Sales Outlet
  • Dia Founders Sue to Stop Sotheby’s Sale of Twombly and ChamberlainDia Founders Sue to Stop Sotheby’s Sale of Twombly and Chamberlain

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Rare Photo Album by Dutch Street Photographer Bought at Auction by Rijksmuseum
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • The Brandeis-Madoff Connection
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • David Hockney's $20m Pacific Coast Highway & Santa Monica
  • Christie's Announces $70m Picasso Self Portrait
  • Phillips Includes $2.5m Norman Rockwell Painting in November Evening Sale
  • Tony Podesta's Secret Art Buying
  • Roy Lichtenstein’s Top Ten Auction Prices
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor