As wealthy collectors from all around the world put aside concerns about the economy and cryptocurrencies to invest in prize artworks, Christie’s sold 60 pieces from the Paul G. Allen Collection for more than $1.5 billion on Wednesday night.
The total was the most money ever raised at a single art auction, according to the New York auction house Christie’s. According to Allen’s intentions, who passed away in 2018, the money will be given to charitable causes.
Georges Seurat’s “Les Poseuses, Ensemble,” which sold for $149.2 million, was the top-selling artwork of the evening. Five other works also surpassed the $100 million mark. Vincent van Gogh, Edward Steichen, and Gustav Klimt among the painters who broke records at auction with paintings that sold for three to four times their estimates.
The late Microsoft co-founder Paul Allen amassed a priceless collection of works from over 500 years ago. Allen pledged to donate at least half of his fortune to charity when he joined the Giving Pledge, thus all earnings will go to charity.