Mrs. Paul Mellons property brought in an exceptional $218.1 Million to total the series of sales at Sothebys Auction House. The three-day interiors auction finished the series more than doubling the expectations to achieve $14.3 million. Mrs. Mellons discerning eye was seen through the fine art, furniture, porcelain, silver, glassware, and decorations offered from her residences.
Among the most highly anticipated sales from a legendary family collection the total sales more than doubled its $100 million presale estimate. An outstanding 98.1% of Mrs. Mellons lots were sold. All proceeds of the auction will go to maintain and fund the Oak Spring Garden Library, benefiting the Gerard B. Lambert Foundation founded by Mrs. Mellon in memory of her father.
The first auction held on November 10 was from the Collection of Mrs. Mellon, Masterworks, and achieved $158.7 million. This auction was led by two paintings both by Mark Rothko:
Untitled from 1970 achieved an outstanding $39,925,000 doubling its presale estimate of $15/20 million. Untitled (Yellow, Orange, Yellow, Light Orange) from 1955, surpassed its presale estimate of $20/30 million bringing in $36,565,000. Both of these pieces exceeding expectations and were part of Mellons collections for more than four decades.
Jewelry and Objects of Vertu from Mrs. Mellons collection were on auction for two days including the Magnificent and Rare Fancy Vivid Blue Diamond. This blue diamond set a new record price for both any blue diamond and price-per-carat selling for $32.6 million.
More Information: Sotheby's
