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Sign of change

The Rockefeller’s collection under Christie’s gavel: a charity sale breaks the market’s records

Art Market | Partnerships between commercial companies and the non-profit sector as well as actors from the art market have become increasingly common. The constant increase of charity art sales during the last decades reflects a market trend. Peggy and David Rockefeller’s collection dispersion in May 2018 is unheard of, both for its renown and for the record sales reached.

La collection de Peggy et David Rockefeller, ‘‘The Art of the Americas‘‘ - Vente du soir à New York le 9 mai 2018 © Christie’s
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La collection de Peggy et David Rockefeller, "The Art of the Americas" - Vente du soir à New York le 9 mai 2018
© Christie’s

After traveling to Hong Kong, London, Paris, Los Angeles, Beijing and Shanghai, the collection, which was gathered by David Rockefeller and his wife Peggy Guggenheim, was auctioned in series by Christie’s New York. 1500 lots were presented, among which ancient art, impressionists, cubists, abstract expressionists, Chinese porcelain, coins, American decorative art and design furniture.

The list of the auction’s beneficiaries reflects the Rockefellers’ extent of interests and activities. These include Harvard University, the Americas Society, the Council on Foreign Relations, the David Rockefeller Fund and Rockefeller Brothers Fund, the Maine Coast Heritage Trust, Rockefeller University, the Americas Farmland Trust, Mount Desert Land and Garden Preserve, and the MoMA, whose collection and finances were supported by David Rockefeller throughout his life. Pursuant to the wishes expressed in his will (Rockefeller died on March 20th 2017) the funds raised were allocated to these 11 organizations, to support projects in the fields of culture, education, science, environment and agriculture.

The highest performing sales included Picasso’s Young Girl with a Flower Basket, sold for USD 115,000,000; Monet’s Water Lilies in Bloom sold for a record USD 84,687,500; Matisse’s Odalisque Reclining with Magnolias bought for USD 80,750,000. Diego Rivera’s The Rivals, initially estimated at USD 5-7 million, was auctioned for USD 9,762,500. Thus, the sale of the Peggy and David Rockefeller collection reached a total of USD 832,573,469 with 100% of lots sold, and exceeded the record achieved by the sale of Yves Saint-Laurent and Pierre Bergé’s collection, which reached USD 443 million in 2009.

Svetlana Skvortsova
Publié le 31/07/2018
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Version française

La collection de Peggy et David Rockefeller, “The Art of the Americas“ - Vente du soir à New York le 9 mai 2018 © Christie’s Pablo Picasso, La Fillette à la corbeille fleurie, 1905 exposé chez Christie’s Londres © Nils Jorgensen / Shutterstock / SIPA Claude Monet, Nymphéas en fleur, 1914-1917 © Christie’s Images Ltd. 2018 via AP Henri Matisse, Odalisque couchée aux magnolias, 1923 © AP Photo Julie Jacobson Diego Rivera, The Rivals, 1931 © Christie’s via AP)

La collection de Peggy et David Rockefeller, "The Art of the Americas" - Vente du soir à New York le 9 mai 2018
© Christie’s

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