(Bloomberg) — Just a month after the Westchester Sculpture Garden was put on the market. Leading art collectors Sherry and Joel Mullin have announced that they are selling nearly a thousand of their art collections. “Basically we sell everything,” Joel said in an interview. “It eliminates some degree of concern: ‘Should we sell this one or that one?’”
this artwork by quantity The collection, one of the largest to be auctioned, will be sold at Sotheby’s for a total value of over $50 million. The pieces will be spread across multiple auctions in London and New York this year. additional sales Including auctions for sculpture masterpieces in particular will take place in 2023 and 2024.
Both have been a force in the contemporary art scene for decades. Slowly collecting awe-inspiring works of art from the 20th and 21st centuries, it’s on display at Buckhorn Sculpture Park in Pound Ridge, New York.
In addition to the property’s 70 outdoor sculptures, Mallins are showcasing their vast collection in a 9,200-square-foot museum-quality space they call an “art barn.” The barn is re-hung every two years. top to bottom,” Cherry said. “So we have the experience of things taking off.”
How to sell 1000 artworks
Sherry said the decision to sell their collection was one of the practical ones. They have donated a large number of works to the museum over the years. But doesn’t like the idea of donating the entire collection to a museum, where “it goes into the basement and no one sees the artist’s work,” Sherry said.
They thought of turning their sculpture garden into a foundation, but “there are many factors against it,” she said. Most of our wealth is in our art,” she continued. “In order to donate We have to sell art. And then we don’t have anything else to donate. It doesn’t seem like a good idea.”
They decided to sell it using former veteran Francis Outred as a consultant. “He got close to both Christie’s and Sotheby’s. And each store has an amazing presentation,” Sherry said. “Each one is very interesting and commendable. And I guess we decide who approaches it with the most comprehensive business perspective. in terms of taking care of the entire collection from start to finish over a long period of time.”
It wasn’t that they were worried about their most expensive lot. “Every auction house knows how to handle the best pieces,” Cherry said. “That’s not difficult. The best pieces manage themselves. What you do with the rest of the collection is really good. but not outstanding.”
So what do they think of Sotheby’s valuation?
“It’s all too little,” Cherry said half-jokingly. “All of my kids are perfect. And every piece of my artwork is amazing.”
Her theory will be tested soon. The first works will be available during the Sotheby’s Contemporary Art Sale in London this month. Thomas Schütte’s Bronzefrau Nr.11 (Bronze Woman No. 11) from 2002 is estimated to be worth around £2 million to £3 million (2.3 million). million to $3.4 million) and will go up for auction on Oct. 14.
that same day A totem sculpture of the couple by Louise Bourgeois, Listening One from 1981, will retail for around £1.3 million to £1.8 million. about 1.8 million to 2.5 million pounds; Sean Scully’s Wall of Light Red since 1998, estimated from £800,000 to £1.1 million, and works by a group known as YBAs (Young British Artists), including works by Damien Hirst and Ron Mueck.
Next month at the New York Evening Marquee Contemporary Auction. They would sell Robert Gober’s work from 1993-94 for an estimated value of $6 million to $8 million, and works by Robert Irwin from 1965–67, part of his collection known as “The Discs. ” which is estimated at $3 million to $4 million.
wait and see
Despite these high prices, Joel has a warning to anyone who buys art purely for financial gain. “Don’t look at art as an investment,” he said. “It might be the worst investment you can make.”
Sherry exclaimed: “Want to amend that order” it was not the worst investment, she said; It’s just “not a good investment or a sure investment. Nobody knows 50 years from now, which artist will make the most money.”
The art that will go up for auction in London has been removed from the walls. But both were still quite cheerful. They plan to attend a sale in New York in November. “I thought it would be bittersweet,” Cherry said.
On the part of Joel suspending judgment “I don’t think I’ll know how I feel about it until it’s sold,” he said.
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