The art market is gearing up for a high-stakes spring season with major estate collections from S.I. Newhouse and Robert Mnuchin slated for auction at Christie’s and Sotheby’s, collectively valued at over half a billion dollars. Meanwhile, London’s spring marquee sales showed strong momentum, with Christie’s and Sotheby’s reporting significant year-over-year increases in their evening sale totals, despite a more modest performance from Phillips.
Sotheby's held a day sale on Wednesday featuring 30 works from the collection of cosmetics heir Leonard Lauder, generating $3.84 million against an estimate of $2.22 million to $3.29 million. The sale followed a strong Tuesday auction led by a Gustav Klimt portrait from Lauder's collection that achieved the second-highest price ever for an artwork at auction. Standout results included works by Dorothea Rockburne, Elizabeth Murray, and Lyonel Feininger that far exceeded their estimates, while a Claes Oldenburg sculpture sold for $444,500, the top price of the day.
Sotheby's has secured a major consignment of approximately $400 million in art from the collection of the late Leonard Lauder, who died in July at age 92. The highlight is Gustav Klimt's "Portrait of Elisabeth Lederer" (1914–16), expected to fetch over $150 million, potentially shattering Klimt's auction record. The sale also includes two other Klimt landscapes, six bronzes by Henri Matisse, a $20 million Edvard Munch painting, and an Agnes Martin work, totaling 55 artworks. The auction will inaugurate Sotheby's new space in the former Whitney Museum building, designed by Marcel Breuer.
The Tate in London has acquired a full-length portrait by Joshua Reynolds of the 5th Earl of Carlisle (1748–1825) through the UK's Acceptance in Lieu scheme, which allows art to be transferred to the nation in place of inheritance tax. The painting, valued at $6.1 million (£4.7 million), was painted in 1769 and had hung at Castle Howard in North Yorkshire for over 200 years. It will remain on public display there but will also travel to other venues including Tate Britain.
Deux Hubert Robert de Madame Geoffrin offerts au musée par les Amis du Louvre
Two paintings by Hubert Robert, once owned by Madame Geoffrin, were acquired by the Musée du Louvre through a preemptive purchase at Christie’s Paris on March 25. The works sold for €1,950,000 hammer (€2,439,000 with fees) and are being donated to the museum by the Société des Amis du Louvre. The paintings, described as 18th-century snapshots, were part of the historic Veil-Picard collection and will undergo restoration before being displayed.
Miami-based collectors Jorge and Darlene Pérez have donated 36 works by 15 artists from Africa and the African diaspora to Tate. The gift includes photographs by Seydou Keïta, paintings by Cheri Samba, a hanging piece by El Anatsui, and works by Joy Labinjo, Wangechi Mutu, Rotimi Fani-Kayode, Buhlebezwe Siwani, Bruce Onobrakpeya, and Gavin Jantjes. The donation also comes with a multi-million dollar endowment to support curatorial research on African and Latin American art, funding a dedicated curatorial post currently held by Osei Bonsu.
Sotheby's achieved a white-glove auction of Bing Crosby's personal collection in New York, selling all 100% of lots for $6.7 million against an estimate of $3.9–$6.3 million. Highlights included musical arrangements from Crosby's 1954 film *White Christmas* ($19,050), a Tiffany & Co cigarette box gifted by John F. Kennedy ($15,240), a Sheraton-style grand piano from *High Society* ($95,250), and a Fabergé sapphire mouse ($355,600). Top prices were led by paintings by Sir Alfred James Munnings ($1.2 million) and Charles Marion Russell.