Two high-profile collections are headed to market this November. Christie’s will offer billionaire Bill Koch’s Monet and Cézanne paintings in New York. Meanwhile, Gagosian will exhibit and sell 11 works from the collection of restaurateur Michael Chow. Together, they set the tone for a busy autumn art season.
The Koch Collection at Christie’s
Christie’s announced on October 26 and 27 that the William I. Koch Collection will headline its November Marquee Week of Sales in New York. The house expects it to bring more than $40 million. Works will appear in the 20th Century Evening Sale, the Impressionist and Modern Art Day Sale, and the Works on Paper Sale.
Two paintings lead the group. Monet’s Champ d’avoine et coquelicots (1890) shows a field of oats and poppies near his home in Giverny. It is estimated at $12 million to $18 million and has been in Koch’s collection for more than 40 years. Cézanne’s Tasse, verre et fruits, painted around 1877, carries the same estimate. Koch acquired it in 1986.
The group also includes Degas, Rodin, Chagall, Matisse, Miró and Diego Rivera. Rivera’s Vendedora de flores en Xochimilco (1929) and Miró’s Peinture (1950) are each estimated at $2.5 million to $3.5 million. In January, Koch sold $84 million of American Western art at Christie’s. In total, he has sold around $112 million of his collection, according to The Art Insider.
Mr. Chow’s Collection at Gagosian
Gagosian will present Friends and Legends: The Collection of Michael Chow. It features 11 works, including portraits of Chow by Basquiat, Warhol, Hockney, Haring and Julian Schnabel. Warhol’s Portrait of Michael Chow (1984) is a two-panel portrait covered in diamond dust. Ed Ruscha painted Mr. Chow L.A. (1973) with kitchen ingredients.
Larry Gagosian said it is hard to think of a restaurant more tied to the art world than Mr. Chow. The gallery will not disclose prices, and Chow gave no reason for the sale. According to ARTnews, one auction house hoped to win the deal, but Gagosian prevailed. Chow offered a theatrical explanation, saying it was time for the works to have their “fifteen minutes.” The show runs in Beverly Hills from November 4 to 7. It then moves to 980 Madison Avenue in New York from November 14 to December 22.
Why the Two Sales Matter
The two sales show different ways of selling art. Koch uses an auction house’s marquee week, with public estimates and competitive bidding. Chow’s works go through a gallery, which keeps prices private. As a result, they appeal to different collectors.
For the Gulf, the timing overlaps with a busy local calendar. Frieze Abu Dhabi opens its first edition on November 19, and Art Here opens at Louvre Abu Dhabi on November 11. In addition, the Guggenheim Abu Dhabi opens on December 11. Therefore, November brings major art moments in New York and the Gulf at the same time.
