Sotheby’s announced the $75m collection of Cleveland auto parts billionaires Morton and Barbara Mandel will be offered in their May sales in New York to benefit the Mandel family’s foundation. The lead lot is a Joan Miró late work estimated at $10-15m, a Barnett Newman work on paper estimated at $800k to $1.2m; a Mark Rothko late work on paper with a $7-10m estimate; a de Kooning from 1978 with an $8-12m estimate; Roy Lichtenstein’s work from the 1970s with a $7-10m estimate; a Donald Judd stack with a $8-12m estimate and a 1964 Warhol flowers painting with a $2-3m estimate.
Here’s Sotheby’s release on the collection:
As Mr. Mandel has said, he and his wife “collected to enrich their lives” and the result is a powerful and personal collection that has remained largely unseen by the public until now. Inspired by the legendary Leo Castelli, who encouraged the couple to focus on a core group of artists, and Arne Glimcher of Pace Gallery, the Mandels carefully assembled their collection over decades. The works have been thoughtfully installed in their homes – creating dynamic juxtapositions of Joan Miró with David Smith, and Roy Lichtenstein with Willem deKooning – and enjoyed each and every day.