In a remarkable turn of events just months after her passing at the age of 97, Marian Goodman is making a significant return to the art market, this time as a consignor. Christie's has announced that it will showcase pieces from her personal collection during its prestigious May sales in New York.
The highlight of this collection will be a selection of works by renowned artist Gerhard Richter, with one piece potentially fetching up to $50 million. This curated selection, which once adorned Goodman's Manhattan residence, is projected to achieve a total of around $65 million.
Among the standout pieces is a group of seven Richter paintings created between 1982 and 2009, set to be featured at the 21st Century Evening Sale on May 20. Notably, the 1982 work Kerze (Candle) stands out as one of Richter's most iconic motifs, with an estimated value between $35 million and $50 million.
This collection not only reflects Goodman's deep-seated relationship with Richter, whom she began representing in 1985 when his presence in the U.S. was still emerging, but also showcases her strategic approach to the art market. By placing key works in major institutions while retaining others, she played a pivotal role in stabilizing Richter's market and enhancing his reputation across the Atlantic.
Richter's market has shown resilience, even in a climate where interest in postwar paintings has fluctuated. His 1986 piece Abstraktes Bild sold for a record-breaking $46.3 million in 2015, underscoring the enduring allure of his work. The upcoming auction is set against a backdrop of increasing demand for well-curated, single-owner collections that resonate with institutional significance.
Goodman's journey in the art world began in 1977 with a show of Marcel Broodthaers, and she has since built a legacy that includes supporting a diverse array of artists such as Lothar Baumgarten and Julie Mehretu. Her commitment to artists often spanned decades, emphasizing a long-term vision that contrasts sharply with the rapid turnover seen in today's market.
As her collection comes to auction, it serves as a testament to her disciplined approach, offering valuable insights for both dealers and collectors on the importance of timing and conviction in the art market. The Richter works, in particular, may provide a roadmap for future strategies in art sales.
