NEW YORK - The third and final of Sotheby’s auctions of Property from the Collection of Mrs. Paul Mellon brought the series total to an outstanding $218.1 million. The three-day Interiors auction – offering fine art, furniture, porcelain, silver, glassware, decoration and more from Mrs. Mellon’s residences in the United States and abroad – finished the series, more than doubling expectations to achieve $14.3 million.
In total an exceptional 98.1% of lots from Mrs. Paul Mellon’s collection found buyers, helping the sale series more than double its $100 million presale estimate. Proceeds from the sales will benefit The Gerard B. Lambert Foundation, a charitable entity established by Mrs. Mellon in memory of her father. The Foundation supports horticultural and educational endeavors.
The first auction of Property from the Collection of Mrs. Paul Mellon – Masterworks – was held on 10 November and achieved $158.7 million. The auction was led by two paintings by Mark Rothko that both exceeded expectations: Untitled from 1970, which achieved $39,925,000 (est. $15/20 million), and Untitled (Yellow, Orange, Yellow, Light Orange) from 1955, which fetched $36,565,000 (est. $20/30 million). Both works had remained in the Mellons’ collection for more than four decades.
Collectors eagerly vied for Jewelry and Objects of Vertu from Mrs. Mellon’s collection on 20 and 21 November, including the Magnificent and Rare Fancy Vivid Blue Diamond which set a new record price for both any blue diamond and for price-per-carat, when it sold for $32.6 million.
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