Sotheby’s attempted a private auction for Jackson Pollock’s *Number 19, 1951* on June 2 in New York, with an asking price of $50 million. The painting is owned by Pace Gallery founder Arne Glimcher. The sale failed after the auction house could not attract enough bidders, and Sotheby’s chairman Oliver Barker reportedly sent a video to prospective buyers noting Glimcher’s reluctance to sell. The auction was called off entirely, marking what sources describe as Sotheby’s first significant attempt at a private auction.
The aborted sale highlights tensions in the high-end art market, where even a major Pollock work struggled to find buyers. The news comes amid broader upheaval at Pace Gallery, which recently cut 50 staff and 50 artists from its roster. Pace CEO Marc Glimcher called the current gallery model “unfixable,” pointing to over-commercialization. Meanwhile, a different Pollock painting sold for $181 million at Christie’s in May, underscoring the market’s selective appetite for top-tier works.