The amazing art collection of Microsoft co-founder Paul Allen, who passed away in 2018, will be sold, according to an announcement made on Thursday by Christie's auction house.
This is the latest shocking development in the world of art. The collection, which contains works by Roy Lichtenstein and Pierre-Auguste Renoir, is thought to be worth more than $1 billion.
The largest auction in history would feature the sale of over 150 items of art spanning 500 years on an unspecified date in November.
As instructed by Allen, Christie's declared that it will donate all of the revenues to charitable causes.
In a telephone interview, Guillaume Cerutti, CEO of Christie's, said: "It's a significant event for the art market and for the art world."
"We are particularly affected by this remarkable project we are working on because it encompasses five centuries of great art, from
Botticelli to David Hockney, and, of course, the very inspirational character of Paul Allen, plus the fact that the sale is dedicated to philanthropy. It's a really unique item.
The art market has continued to grow despite the pandemic's ongoing economic effects, a war abroad, and rising inflation, demonstrating.