Family Law Prof Blog

Editor: Margaret Ryznar
Indiana University
Robert H. McKinney School of Law

Monday, December 17, 2018

Splitting Art in a Divorce

From Art News:

The closely watched divorce proceedings of collectors Harry and Linda Macklowe have finally come to a resolution, as New York judge Laura Drager has officially ordered that they sell their collection, worth near $700 million, and split the proceeds, according to Bloomberg. Linda Macklowe will be able to keep $40 million worth in art, but pay half of that sum to Harry, indicating a complete center split of all assets.

Their collection, which encompasses some 165 pieces of art, among them Andy Warhol’s Nine Marilyns which is estimated to be worth $50 million, Le Nez by Alberto Giacometti, worth up to $35 million, Jeff Koons Vest with Aqualung for $10-11 million, and Jackson Pollock, Number 17, valued at up to $35 million. The collection is just a fragment of the former couple’s $2 billion fortune amassed over a 59-year marriage, which will all be split.

Read more here.

| Permalink


Post a comment