Perelman’s art raises $ 145 million, but T. Rex Styles Show – Arts & Culture

Perelman’s art raises $ 145 million, but T. Rex Styles Show – Arts & Culture

A painting by Cy Tomballi from the collection of billionaire Ron Perelman led to a $ 340.9 million auction at Christie’s, an off-season event that was live-streamed in New York from Tuesday.

But the real surprise of evening sales of 20th century art came at the very end. It was not a painting, drawing or sculpture, but a 67 million year old fossil. Tyrannosaurus Rex Stein, named after paleontologists who discovered it in 1987, received $ 31.8 million, nearly four times the high estimate and all but two.

Sold by the Black Hills Institute of Geological Research in South Dakota, where it has been demonstrated and studied for the past two decades, the Stan is 13 feet tall and 40 feet tall. This according to Christie, the largest and most complete tee. Rex is one of the skeletons. T. Rex’s previous auction record was in 1997 for $ 8.4 million. Stan was followed by at least five bidders and was bought by an anonymous buyer, who could be identified in the coming days.

“We are innovative,” said Christie Chairman of the 20th and 21st Century Department, Alex Rotor, of the company’s inclusion of dinosaurs in art sales and organizing ahead of the US election and a possible second wave of Kovid-19 Said about Cases. “It worked.”

Tomballi’s “Untitled (Bolsena)”, which sold for $ 38.7 million after Christie and Sotheby’s estimated $ 35 million to $ 50 million between at least 11 works from Slayed Pellerman’s collection up for auction on Tuesday Gone. Together, they set a target of $ 141 million to $ 208 million. The result was $ 145.4 million, including fees charged by auction houses.

In Christie’s hands, Perryman’s two pieces – by Henry Mattis and Bryce Marden – were withdrawn before the sale, often indicating a lack of interest. Bidding was drawn to his works by Mark Rothko ($ 31.3 million) and Willem de Kooning ($ 23.3 million).

Perelman’s Gerhard Richter in Sotheby’s, Hong Kong, sold nearly $ 28 million on Tuesday, generating more enthusiasm, exceeding the high estimate of $ 18 million. Sotheby’s said it was the highest price received for any Western artwork sold at auction in Asia. The buyer was a museum in Japan.

The sale of the art is part of a larger division by Perelman, who has recently disposed of several companies and put a private jet on the market.

Since July, the owner of Revlon Inc. has sold more than $ 200 million of art from his collection, both privately and at auction. He will use some of the proceeds from the sale to pay off the debt from Citigroup Inc., people familiar with the arrangement have said.

Perelman’s investment company, MacAndrews & Forbes, said it was reworking its grip in response to the coronovirus epidemic in July and caused damage to American businesses, including its own assets. The 77-year-old said in a statement last month that the time had come for her to “clean the house, simplify and give others the opportunity to enjoy the beautiful things I have acquired over the decades.”

Representatives of Perelman, who is selling anonymously, Christie and Sotheby’s declined to comment.

The auction has been a difficult year for the art market, with houses in the auction giving auction houses a major boost. The global epidemic dramatically reduced sales volume, canceled live events and revised decades-old calendars and formats.

(This story is published from a wire agency feed without textual modifications.)

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