Christie’s in New York is auctioning various items from the personal collection of David and Peggy Rockefeller. There is an array of over 2,000 items and a majority are surpassing expected auction value. The proceeds will be donated to over a dozen charities, to follow David Rockefeller’s pledge of directing his wealth for philanthropy.
With the auction on-going and the bids increasing at rapid rates, Christie’s is looking at breaking the record for biggest estate sale in U.S. history. The biggest estate sale record valued at $484 million in 2009 for the art collection of fashion designer, Yves Saint Laurent.
The sale includes a collection of art, jewelry, furniture, ceramics, porcelains, and silver. With the high value of the items including the added value of historic ties to the Rockefellers the estimated total of the auction should value of $1 billion. The estate value matches the condition that these historic items were properly stored and handled, ensuring authenticity.
The art collection includes works from Picasso, Matisse, Monet, Hopper, and Miró. An artwork from Picasso’s Rose Period, “Fillette a la Borbeille Fleurie” (1905), is estimated to sell for $100 million.
Another high-value artwork is Monet’s “Nympheas en fleur” (Water Lilies in Bloom 1914-1917), with the expecting value between $50 to $70 million.
CNBC’s Power Lunch showed viewers the items for auction a couple of weeks ago, with price estimates exceeding in high-value. A pair of gold and aquamarine martini cuff-links initially estimated at $400-$600, with the current bid for $6000.
The auctions are to take place between May 8 and 11 at Christie’s auction rooms in New York and Christie’s online service. This record breaking auction could also break the record for biggest charitable donation.
