A selection of high-value artworks from entrepreneur and philanthropist Jennifer Gilbert's collection is set to be auctioned at Sotheby's this spring, with proceeds benefiting Lumana, a nonprofit arts initiative she is establishing in Detroit.
The auction will feature pieces across Sotheby's May contemporary sales and its June design auction. Notable works include Joan Mitchell's Loom II (1976), valued between $5 million and $7 million, and Kenneth Noland's Circle (1958), estimated at $4 million to $6 million--an ambitious price that could set a new record for the artist.
Additional pieces by artists such as George Rickey and Harry Bertoia will complement this collection, which emphasizes midcentury abstraction and design--genres that continue to be reliable in today's market.
This auction comes at a time when both collectors and institutions are gravitating towards established artists, even as overall demand has softened for works outside the upper echelon. The carefully curated selection of recognizable pieces is poised for success, all while contributing to a noble cause.
Funds generated from the auction will support Lumana, which Gilbert is developing in Stanton Yards within Detroit's Little Village neighborhood. This space aims to serve as a creative hub for artists and designers, with initial programming planned in collaboration with the Cranbrook Art Museum.
"Detroit is a very special city, with a rich and well-preserved history of art and design alongside a vibrant contemporary art scene, and is even recognized as the first UNESCO City of Design in the US," Gilbert shared in a statement, highlighting that the auction will aid in establishing both programming and a permanent home for the foundation.
Sotheby's has positioned this collection as a showcase of postwar American innovation, illustrating the interconnections between painting, sculpture, and design. However, the underlying rationale is straightforward: these are the types of works that continue to attract buyers.
The collection will be on display at Sotheby's New York galleries prior to the May auctions, inviting art enthusiasts to engage with these significant works.