There’s always something a little magical about a single-owner sale in the auction world, from the dissemination of the Duchess of Windsor’s history-laced jewelry in 1987 to the court-ordered breakup of warring exes Harry and Linda Macklowe’s nearly billion-dollar art collection in 2021 and 2022.
Next month, both Christie’s and Sotheby’s are hawking storied troves, one an enviable assemblage of modern art by some of the past century’s preeminent names, the other a cache by old masters such as Peter Paul Rubens and Frans Hals. For collectors, having the imprimatur of a Leonard and Louise Riggio or a Jordan and Thomas A. Saunders III adds an extra layer of history, one that’s simultaneously akin to a luxury brand name. “I think [it] can be aspirational for people looking to take home a piece, so to speak,” says Vanessa Fusco, head of Impressionist and Modern art at Christie’s.
George Wachter, Sotheby’s chairman and co-worldwide head of old master paintings, notes that seeing how a sole (or a couple) pair of eyes built a collection can be inspirational, particularly as the chances of replicating this type of top-grade group become increasingly slim. “And I think people just like that extra bit of provenance,” he says, “if you know what I mean.”
Leonard & Louise Riggio: Collected Works at Christie’s
Courtesy of Christie’s
The Collectors
Brooklyn-born Leonard “Len” Riggio acquired a single Barnes & Noble bookstore in 1971 and transformed it into a behemoth. He and his wife, Louise, gave to a variety of charities, most of them liberal. Len died last year, at 83.
The Backstory
While building an exemplary contemporary-art collection with Louise, Len also served as the chairman of the Dia Art Foundation and was heavily responsible for the creation of its sprawling museum in Beacon, N.Y. Louise is selling dozens of era-spanning modern works—most of which adorned the couple’s Park Avenue home—but holding on to their stellar Minimalist and Arte Povera pieces. “It is this magnificent time capsule of 20th-century art,” Fusco says of the sale.
Sale Estimate
In excess of $250 million for 39 lots
Presale Road Show
London, Hong Kong, Paris, Dubai, and Los Angeles
Top Lot
Mondrian, Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue, 1922 (1). “It is such an exceptional and rare piece,” says Fusco. Painted in the abstract geometric style he became famous for, the canvas also has a pristine provenance, having been owned by Anthony Kok, a founder of the avant-garde De Stijl movement, from the year it was finished until the 1950s. With an estimate of about $50 million, it’s set to challenge the artist’s auction record of $51 million.
Keep an Eye On
The two Magrittes, including Les droits de l’homme, 1947-48 ($15 million) (2). The Belgian Surrealist and the 101-year-old movement as a whole are having a moment.
Blink and You’ll Miss
The women. Just two are represented in the sale, though both are icons: sculptor Barbara Hepworth, with The Family of Man: Ancestor II (4), and painter Agnes Martin, with The Peach (3). Hepworth’s lot, estimated at $8 million, stands a decent chance of breaking her auction record of $11.56 million.
Elegance & Wonder: Masterpieces From the Collection of Jordan and Thomas A. Saunders III at Sotheby’s
Courtesy of Sotheby’s
The Collectors
Native Virginian Thomas A. Saunders III made his name as a Wall Street power broker at Morgan Stanley. Along with his wife, Jordan, he contributed to many, primarily conservative, causes. Tom died in 2022, at 86.
The Backstory
The Saunderses were collectors, but it wasn’t until after Jordan ran into Wachter at an auction in 1997 that they kicked their acquisitions into high gear. The couple proceeded to work closely with him to buy museum-quality works. “They gave me an agenda to go out and get the best of the best for them,” Wachter recalls. “It was one of the highlights of my career.”
Sale Estimate
$80 million to $120 million, with 56 lots
Presale Roadshow
London, Amsterdam, Brussels, L.A., Hong Kong, and New York
Top Lots
Though many of the estimates are in the same neighborhood, one standout lot is a pair of Francesco Guardi views of Venice (including 5) ($10 million to $15 million). But don’t overlook Jan Davidsz. de Heem’s spectacular floral still life (6) ($8 million to $12 million), a portrait of a scholar painted by a teenage Gerrit Dou ($5 million to $7 million), or Sir Thomas Lawrence’s Portrait of Miss Julia Peel (7), whose mother’s likeness by the artist hangs in the Frick ($6 million to $8 million). “You do not see a Lawrence of a young, beautiful girl in pink like this,” says Wachter. “You just don’t see it.”
Sleeper Hits
Jan van Kessel’s lifelike butterflies and other critters (8) painted on copper ($3 million to $5 million) and Luis Meléndez’s mouth-watering still life of a cauliflower (9) ($5 million to $8 million).
Back from the Dead
While the trio traveled widely in search of prime works, one noted piece emerged from the attic of a Connecticut barn: a Frans Post landscape ($6 million to $8 million). “It was filthy, black, dirty,” Wachter says. “You could hardly see it.” A thorough cleaning revealed a menagerie set under a bright blue sky