16 May, 2018

Rockefeller Estate Auction Reaches $832.5m

One of the most well-known families in the world, the Rockefellers, are celebrating an auction record after their auction (The Collection of Peggy and David Rockefeller) generated over $832.5m in sales.

The auction became one of the biggest of all time and shattered Sotheby's Collection Yves Saint Laurent et Pierre Bergé Estate Auction which ticked over $443m back in 2009. 

The Rockefeller auction, consisting of 1,500 lots was aided by a 6-month campaign, an exhibition visited by over 30,000 people and a virtual tour which attracted 2.4m page views.

Who are the Rockefellers?

The Rockefeller Family

The Rockefeller family are one of the richest in the world. 

John Rockefeller, considered one of the greatest industrialists in the USA, founded the Standard Oil Company which reinforced the American Petroleum industry during the 19th Century. He later amassed a fortune that made him one of America's first billionaires and his family one of the richest in the world.

The family would soon diversify their portfolio and move into areas such as banking, philanthropy, politics and more.

His grandson, David Rockefeller, took part in the rebuild of Wall Street from the 50s into the 60s. His efforts proved fruitful as Wall Street was able to become one of the biggest financial capitals in the world.

Trivia - David married his wife, Peggy McGrath in 1940. 

Peggy McGrath Rockefeller was a conservationist and board member of a trust. She founded the Maine Coast Heritage and dedicated her life to Family, Art and Philanthropy along with her husband, David.

The Auction

The Rockefeller collection is heavily laden with Impressionist Art, Post-Impressionist Art, Furniture from England and Europe, Chinese Porcelain and more! It's a testament to their shared interests.

There were records broken in Art, Furniture, Porcelain and more! Here we pick out some of the biggest sales in the auction.

Trivia - The auction itself saw bidders register from 53 countries!

Top lots Sold:

  • Picasso’s Fillette à la corbeille fleurie - $115,000,000.
  • Monet’s Nymphéas en fleur - $84,687,500.
  • Matisse’s Odalisque couchée aux magnolias - $80,750,000.
  • Diego Rivera - The Rivals - $9,762,500.
  • The Sèvres porcelain ‘Marly Rouge’ - $1,812,500.

Trivia - A money clip containing a picture of the Rockefeller building in Gold had sold for over $70,000.

The last item had sold around 2 am local time (New York) and brought an end to one of the biggest auctions of all time.

Final Words

As far as auctions go, 1,500 lots, bidders from 53 different countries and records in almost every department, the Rockefeller Estate auction is historic, to say the least.

David Rockefeller Jr had some words to say for the auction.

‘This week of auctions has exceeded our expectations in so many ways” - David Rockefeller, Jr.

The proceeds will be spread among 12 charities who were supported by both David and Peggy. The areas these charities deal in are: scientific research, education, arts, economic development and land conservation.

If you liked the article then hit the share button. To go back to the Journal for even more content, hit the button below.

 
Share
Massive $800m Art Auction of Rockefeller Art
Massive $800m Art Auction of Rockefeller Art
Massive $800m Art Auction of Rockefeller Art
Massive $800m Art Auction of Rockefeller Art
Massive $800m Art Auction of Rockefeller Art