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Works in the Macklowe Collection Enumerated for Sale

December 14, 2018 by Marion Maneker

This court document with the Macklowe art schedules is available to AMMpro subscribers. Subscribers get the first month free on monthly subscriptions. Feel free to cancel at any time before the month is up. Sign up for AMMpro here. We'll keep the initial sales reports outside of the paywall before they are only available to subscribers.

Judge Draper granted Linda Macklowe a list of 15 works that are sentimentally valuable to her in the Macklowe divorce. There is no dispute over the valuation for these works so Linda Macklowe can pay Harry Macklowe $20m for his half of the $40m the 15 works are worth and keep them for herself.

The remainder of the collection will be sold to determine its value fairly, Draper has decided. She divided those works into two schedules. The first represents the highest value works which carry very different appraisals from the experts each side hired. Here are those works and the value ranges between the two experts:

Schedule II

Andy Warhol Nine Marilyns $50m

Alberto Giacometti, Le Nez $35-65m

Michael Heizer Track Painting 1967 $150k-$1.7m

Robert Irwin, Untitled (1965-6) $2m v $8.5m

Jeff Koons Vest with Aqualung $10m - $11m

Jackson Pollock, Number 17 $35m  v $15m

The secnd schedule lists the works to be sold presumably in May of 2019 for which there are no agreed upon valuations:


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About Marion Maneker

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