Christie's have announced the upcoming sale of one of the world's finest collections of Post-War and Contemporary art - the Pincus Collection.
The sale will offer an extraordinary selection of works from many of the 20th century's most important artists such as Mark Rothko, Jackson Pollock, Willem de Kooning and Clyfford Still.
Acquired over the course of 50 years, the collection was built by the celebrated collectors and philanthropists David and Geraldine Pincus; major art patrons who spent a lifetime supporting institutions such as the Philadelphia Museum of Art and the Institute of Contemporary Art at the University of Pennsylvania.
The sale is expected to raise in excess of $100 million, but considering the current art market and the artists involved even this estimate could appear slightly conservative.
A report issued at the end of 2011 stated contemporary art sales at Christie's and Sotheby's had risen by 35%, as traditional art collectors sought works by 'blue chip' names of the 20th century. This was evident in the results of the Sotheby's contemporary and post war art in November 2011, which saw a total result of $316 million (the highest total since before the financial crisis hit in 2008).
The Christie's sale, which takes place in New York on May 8 - 9, "represents a lifetime of collecting the best" and includes a wealth of highlights.
Mark Rothko's highly important 'Orange, Red, Yellow' (1961) will feature with a pre-sale estimate of $35,000,000 - $45,000,000, and will be joined by the possible the finest Jackson Pollock work to appear at auction in 15 years - No. 28 (1951) valued at $20,000,000 - $30,000,000.
The sale will also offer two major paintings and two sculptures by Willem de Kooning, with estimates ranging from $2.5 million to $12 million. The proceeds from the sales of each of these works will be donated to Pincus Family Foundation, which works with numerous international charities around the world.
With such an incredible line-up of artists on offer, the auction will be highly anticipated by the world's top collectors. We'll be taking a closer look at some of the masterpieces on offer later this week, so keep an eye on our up-to-date art section for the latest worldwide auction news and market reports.