Photo: via Sotheby’s
Private equity titan Teddy Forstmann died earlier this year, leaving behind a vast real estate portfolio, which recently hit the market for a combined $70 million.Now, some of the artwork that hung on Forstmann’s walls is about to hit the auction block.
Sotheby’s is selling some 50 works owned by the mogul at its May Impressionist & Modern Art and Contemporary Art sales, and estimates that the total proceeds from Forstmann’s paintings will exceed $75 million.
The collection includes one of Picasso’s paintings of Dora Maar, which is expected to sell for between $20 and $30 million, and Joan Miró’s Tête Humaine, which should go for between $10 and $15 million.
Works by Lichtenstein, Basquiat and Gorky from Forstmann’s collection will also hit the auction block.
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