A multi-year saga came to a close on Monday night at Sotheby’s New York, where the final tranche of artworks from the divorced octogenarians Harry and Linda Macklowe brought in $246.1 million.
Together with the $676 million auction of the first batch of their collection last November, the former spouses’ 65 artworks totalled $922.2 million. This made it retroactively one of the most valuable art collections in the world and, Sotheby’s claims, the most valuable collection to ever sell at auction.
The sale came about as the result of a bitter 2018 divorce between Harry, a billionaire real estate developer, and his wife at the time, Linda.
They feuded in court over assets — she had silver valued at $409,500, books valued at $85,500 and jewellery worth $3.84 million, though he had cars worth $385,000 and their yacht, Unfurled, worth $23.5 million. It eventually transpired that the largest chunk of their wealth was in art.
“The art collection is the parties' most valuable marital property,” wrote New York State Supreme Court Justice Laura Drager in her 2018 ruling. “The parties hold significantly less in stocks or other investments compared to the value of the art collection. The husband credibly testified that the art enabled diversification and was an alternative investment form.”
Drager ruled that Linda could keep more than half of the artworks, with a total value of just under $40 million, given that both sides’ valuations of the pieces were relatively in-line.
The rest represented the bulk of the collection’s worth, but the pair disputed its value — Linda argued it was worth $625 million, Harry claimed it was worth $788 million.
As such, Drager ordered it to be sold. Only the market, she wrote, could determine its true worth. “In addition,” Drager added, “the sale will provide each party with needed cash to enable them each to enjoy their lifestyles.”
Top lots in New York
After Monday night, there is a lot of cash to support their lifestyles.
The 30 lots carried a total estimate of $167.6 million to $236.4 million. Estimates are for the price where bidding ends, or what’s known as the hammer. But the sums reported here are what the buyers paid in total, which include auction-house fees known as buyer’s premiums. These can add between 13.9 per cent and 25 per cent (the higher the price, the lower the premium) to the total sum.
The most expensive lot in the sale was a brooding colour field painting by Mark Rothko from 1960. Painted in a range of dark reds and maroons against a blue background, the couple acquired the painting in 1983, according to the auction house. Estimated at $35 million to $50 million, on Monday night the auctioneer Oliver Barker began bidding at $30 million, and dragged it slowly up in $500,000 increments to a $41.5 million hammer. With premiums, it came to $48 million.
Other major lots included Gerhard Richter’s massive 1975 Seascape painting, which sold for $30.2 million, squarely within its $25 million to $35 million estimate; a 1986 Andy Warhol Self Portrait, estimated between $15 million and $20 million, which sold for $18.7 million; and a Cy Twombly “chalkboard” painting, Synopsis of a Battle from 1960. Estimated between $12 million and $18 million, bidding began at $10 million and never really took off; it hammered at $13 million, or $15.3 million with premiums.
Biggest auction sales of 2021 — in pictures:
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Lampedusa: Gateway to Europe
Pietro Bartolo and Lidia Tilotta
Quercus
Benefits of first-time home buyers' scheme
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UAE currency: the story behind the money in your pockets
How to increase your savings
- Have a plan for your savings.
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Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
Secret Pigeon Service: Operation Colomba, Resistance and the Struggle to Liberate Europe
Gordon Corera, Harper Collins
THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5
Key facilities
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UAE currency: the story behind the money in your pockets
The 15 players selected
Muzzamil Afridi, Rahman Gul, Rizwan Haider (Dezo Devils); Shahbaz Ahmed, Suneth Sampath (Glory Gladiators); Waqas Gohar, Jamshaid Butt, Shadab Ahamed (Ganga Fighters); Ali Abid, Ayaz Butt, Ghulam Farid, JD Mahesh Kumara (Hiranni Heros); Inam Faried, Mausif Khan, Ashok Kumar (Texas Titans
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Killing of Qassem Suleimani
Killing of Qassem Suleimani
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Results
1. Lewis Hamilton (Mercedes) 1hr 32mins 03.897sec
2. Max Verstappen (Red Bull-Honda) at 0.745s
3. Valtteri Bottas (Mercedes) 37.383s
4. Lando Norris (McLaren) 46.466s
5.Sergio Perez (Red Bull-Honda) 52.047s
6. Charles Leclerc (Ferrari) 59.090s
7. Daniel Ricciardo (McLaren) 1:06.004
8. Carlos Sainz Jr (Ferrari) 1:07.100
9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692
10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,
COMPANY%20PROFILE
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Specs
Price, base: Dhs850,000
Engine: 3.9-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 591bhp @ 7,500rpm
Torque: 760Nm @ 3,000rpm
Fuel economy, combined: 11.3L / 100km
