Art Market Monitor

Global Coverage ~ Unique Analysis

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

Perelman Revealed as Seller of Miro, Matisse Valued at $53 M. Coming to Sotheby’s

July 21, 2020 by Angelica Villa

Detail of Joan Miro’s 1927 “Peinture (Femme au Chapeau Rouge). Courtesy Sothebys.

New York billionaire, Ronald Perelman is liquidating a portion of his art collection according to Bloomberg amidst reported plans to restructure his investment portfolio.

Two paintings from Perelman’s modern holdings, by Joan Miro and Henri Matisse will be offered in Sotheby’s upcoming multi-category London evening sale Rembrandt to Richter on July 28th. Together, the paintings are estimated with a high pre-sale value of up to £42 million ($53.3 million).

CEO of holding company, MacAndrews & Forbes, Perelman, who according to Bloomberg is selling the works anonymously, as noted in the work’s cataloguing acquired the works from Zurich dealer, Thomas Ammann in 1988-89. The late dealer had a high-profile roster of buyers, including David Geffen, Gianni Agnelli, Stavros Niarchos, and Ronald Lauder.

The 77-year-old Chairman amassed his wealth through various channels in the cosmetics, manufacturing and pharmaceutical industries. His art collection includes modern and contemporary works by artists like Richard Serra and Cy Twombly. Perelman—whose net worth is estimated at $17.4 billion— is known for his active trading of artworks as investments.

A recent filing with the Securities and Exchange Commission by his firm, MacAndrews & Forbes Holdings and a statement from representative, Josh Vlasto to Bloomberg revealed Perelman may be adjusting his portfolio due to changes in the economic climate amid the global pandemic.

Sotheby’s touts the lure of the two lots being unseen for several decades. Carrying the highest estimate of the auction’s offerings, Miro’s blue-backed 1927 Peinture (Femme au Chapeau Rouge) from his famed “dream series” is being sold at a low pre-sale value of £20 million. According to Sotheby’s cataloguing of the work, it was previously in the collection of Alexander Calder, who acquired the work in 1966 and was last exhibited publicly in 1984. The Miro is listed in the artist’s catalogue raisonné as belonging to the Revlon collection.

A 1942 Matisse painting valued at an estimate of £8 million to 12 million is the second work hailing from Perelman’s collection. The portrait’s subject is said to be Italian noble, Carla Avogadro, and was acquired from Ammann in 1989.

More from Art Market Monitor

  • Bloomberg's Nonsensical Art Market StoryBloomberg's Nonsensical Art Market Story
  • Jake and Dinos Chapman Explain the Art MarketJake and Dinos Chapman Explain the Art Market
  • City to Fund ‘Culture Shed’ Next Door to Proposed Sotheby’s LocationCity to Fund ‘Culture Shed’ Next Door to Proposed Sotheby’s Location
  • China Guardian’s Co-Founder Talks About Her Party-Leader FatherChina Guardian’s Co-Founder Talks About Her Party-Leader Father
  • Agnes Gund & Oprah Winfrey Lead Auction of Women Artists at Sotheby’s to Benefit Miss Porter’s SchoolAgnes Gund & Oprah Winfrey Lead Auction of Women Artists at Sotheby’s to Benefit Miss Porter’s School
  • ArtList’s 3 Must See Shows: James Turrell, Philip Guston & Eric FischlArtList’s 3 Must See Shows: James Turrell, Philip Guston & Eric Fischl

Filed Under: General

About Angelica Villa

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

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • The Billion-Dollar NYC Apartment of Ben Heller
  • How to Chant Like an Auctioneer
  • David Bowie Talks About Art (with Julian Schnabel)
  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • Breaking Views: Art Doesn't Hedge Inflation
  • Mapping a Career in the Art World
  • 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