In 1967, Agnes Gund acquired Mark Rothko's stunning 1964 piece No. 15 (Two Greens and Red Stripe) directly from the artist's studio. This remarkable painting has adorned her living room for many years and will now grace the auction block for the first time this May, leading a select group of artworks from her esteemed collection at Christie's.
The auction house has announced that three significant pieces from Gund's collection will be featured during its marquee May sales in New York. This includes the Rothko, valued at approximately $80 million; Cy Twombly's 1961 Untitled, estimated between $40 million and $60 million; and Joseph Cornell's 1948 Untitled (Medici Princess), with an estimated value of $3 million to $5 million.
These three works represent a critical moment in postwar art, as all three artists--Rothko, Twombly, and Cornell--have made indelible marks in their unique styles. Gund, a dedicated trustee of the Museum of Modern Art and its president from 1991 to 2002, cherished these pieces not merely as collectibles but as integral parts of her life, which will undoubtedly heighten interest among collectors.
The Rothko piece is particularly noteworthy, standing over seven feet tall with its deep greens and indigo fields contrasted by a striking red-orange stripe. Gund first encountered this masterpiece during a studio visit, and it remains one of the few Rothko paintings still in private hands, having never been auctioned before. For years, it served as a daily inspiration in her home rather than a mere trophy.
Twombly's work, created in Rome in 1961, reflects a transformative period in his career, showcasing his dynamic lines and vibrant colors. In contrast, Cornell's intimate assemblage from 1948 combines Renaissance imagery with found objects, creating a dreamlike experience. Together, these three artworks encapsulate Gund's diverse collecting approach, ranging from monumental abstraction to delicate assemblage.
Christie's is thrilled to present these works at a time when the market is eager for fresh pieces with clear provenance. The Rothko's unique history adds significant value, coming from a collection that carries both emotional and institutional significance. In a market where sellers are cautious and buyers are selective, such compelling narratives are crucial.
Gund's impact transcends her role as a collector; she was a pioneering force in advocating for diverse representation in art. Born in Cleveland in 1938, she began her serious art collection in the 1960s and was instrumental in expanding MoMA's collection, donating over 1,000 works throughout her life.
In 2017, she garnered attention beyond the art community by selling Roy Lichtenstein's Masterpiece for $165 million, directing a significant portion of the proceeds toward the Art for Justice Fund, highlighting the potential of art to drive social change.
The upcoming auction will not only mark the sale of these iconic pieces but also represent the final chapter of a collection that has significantly influenced museums nationwide. Prior to the May auction, both the Rothko and Twombly will embark on an international tour, showcasing their beauty to a global audience.
