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ART AND MONEY

The Most Expensive and Wanted Artworks in the World
If a piece is “truly, truly to die for” and is still in private hands, it is no doubt on someone else’s wish list. Like that $100 million Cézanne

By Kelly Tomas

Photo: Steve Wynn is approached on a regular basis about works he owns, such as his Tahitian Gauguin, Bathers, 1902. He reportedly paid close to $35 million for it.

The Museum of Modern Art has one. So does Los Angeles collector Eli Broad. They can be predictable or idiosyncratic, practical or fantastical. But most wish lists are very, very private. “That’s really personal stuff,” a top New York collector chuckled when asked to name his most wanted artworks still in private hands. Yearning—the more discreet the better—makes the art world go ’round. Dealers and auction specialists at the top of their game know where the most wanted artworks are at any given moment and what price might wrest a coveted object from its owner. Museum curators keep track of the same information to court loans and gifts. Collectors, meanwhile, no matter how desired the works in their own collections, always have an eye on something else.“ We all have our wish lists but we don’t go around talking about them. It gets in the way of our getting the work,” says Miami art collector Donald Rubell. “We hope that when our friends die, their children won’t like their art. Those are our silent wishes.”

Jackson Pollock’s Lucifer, a prime 1947 drip painting owned by the Anderson Collection in San Francisco, is so coveted it could fetch $50 million or more, sources say, were it ever to come on the market. (Don’t hold your breath: entertainment mogul David Geffen, who owns Pollock’s coveted Number 5, 1948, offered the Andersons $50 million for Lucifer in the mid-1990s, according to sources, and was rejected.)Shipping magnate George Embiricos owns Cézanne’s The Cardplayers (1892–93), the only work in the series in private hands, which experts say could be worth as much as $100 million. Canadian publisher Kenneth Thomson and his son, David, recently paid $76 million for Rubens’s recently discovered The Massacre of the Innocents (ca. 1609–11) at Sotheby’s, against competition from the J. Paul Getty Museum in Los Angeles. Yet Rembrandt’s 1654 portrait Jan Six (owned by the Six family foundation in Amsterdam), says New York dealer Otto Naumann, is possibly the most wanted Old Master painting in private hands. “It is a killer,” says Naumann. “It is worth in excess of $150 million easily.” The whereabouts of the most expensive painting ever sold at auction—van Gogh’s Portrait of Dr. Gachet (1890), which sold for $82.5 million at Christie’s in 1990 and $90 million seven years later in a private sale through Sotheby’s—remain a mystery but to a select few. (They’re not talking.) But hotel-casino mogul Steve Wynn, for one, would rather acquire van Gogh’s Portrait of Patience Escalier (1888) or the artist’s Self-Portrait with Bandaged Ear and Pipe (1889), both of which are owned by the Niarchos family, heirs of the late Greek shipping tycoon Stavros Niarchos. “Those are the two pictures I’d want before Dr. Gachet,” Wynn told ARTnews. “Dr. Gachet is known primarily because of the amount of money that was spent on it.”   San Francisco collector John A. Pritzker owns the most expensive photograph known to have been sold: Man Ray’s Glass Tears (1932–33), for which he paid a reported $1.3 million four years ago. Today Peter MacGill, president of New York’s Pace/MacGill Gallery, who sold the vintage print to Pritzker, says the photograph’s value has increased substantially. “There are some Man Rays that are worth a couple million dollars,” says MacGill. When asked which images would command such a sum, he replied, “Now you’re putting me in a tough spot. I’m trying to get one.” Fans of Damien Hirst would love to get their hands on the artist’s The Physical Impossibility of Death in the Mind of Someone Living (1991)—a 14-foot tiger shark floating in formaldehyde that is owned by Charles Saatchi and could be worth several million today, sources say. Saatchi reportedly paid around $75,000 for it. And the popularity of Thomas Cole’s iconic The Falls of Kaaterskill (1826) continues to astound its owner, paper manufacturing tycoon Jack Warner of Tuscaloosa, Alabama, who says, “You know, it’s been to the Vatican.” (It was shown in “A Mirror of Creation: 150 Years of American Nature Painting” at the Vatican Museums in 1980.) Specific works land on wish lists because of what collectors do, or more often don’t, already own. Some collectors are haunted by not having acted quickly enough in the past and fear they will be priced out of the market for an artist or body of work. Others are moved by a new or renewed appreciation of a particular period in an artist’s career. Or by a desire to reunite works in a series that was not kept together. Sometimes the pursuit simply comes down to ego.

 

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