Home Lifestyle Art and Culture From Rembrandt to Richter: Billionaire Ronald Perelman to promote Matisse, Miro works for...

From Rembrandt to Richter: Billionaire Ronald Perelman to promote Matisse, Miro works for $53 million – artwork and tradition


Ronald Perelman, the billionaire who mentioned final week he’s trying to rework his funding empire, has prolonged that evaluation to incorporate his prized artwork assortment.

Perelman, 77, will look to promote two fashionable work this month, based on folks acquainted with his assortment. The works by Joan Miro and Henri Matisse may fetch as a lot as 42 million kilos ($53.three million) at Sotheby’s mixed-category public sale, titled From Rembrandt to Richter, on July 28, mentioned the folks, who requested to not be recognized as a result of Perelman is promoting the works anonymously.

Josh Vlasto, a spokesman for Perelman’s funding firm MacAndrews & Forbes, declined to remark, as did Sotheby’s.

ALSO READ: Rembrandt to Richter public sale at Sotheby’s on July 28

Vlasto mentioned final week that Perelman is choices together with the divestment of sure belongings “on account of adjustments on the earth each socially and economically.” The transfer “will permit us to be opportunistic and versatile in new conditions,” based on a press release. Perelman, who owns Revlon Inc., mentioned final week he’s exploring promoting his shares in Scientific Video games Corp.

His artwork assortment is value billions of {dollars} and contains largely 20th century works with sculptures by Alberto Giacometti and Jeff Koons and work by Mark Rothko, Cy Twombly and Ed Ruscha.

Perelman’s Miro at Sotheby’s has the very best estimate within the sale that additionally features a self portrait by Rembrandt. Estimated at 20 million kilos to 30 million kilos, the portray may set a brand new public sale file for Miro, which is at the moment 23.6 million kilos.

“Peinture (Femme au Chapeau Rouge),” depicting indicators and symbols floating towards a blue background, was painted in 1927, quickly after the artist participated within the first Surrealists exhibition in Paris. It was as soon as owned by artist Alexander Calder, based on Sotheby’s. The Miro catalogue raisonne lists the work within the assortment of Revlon.

The second Perelman lot at Sotheby’s is a 1942 Matisse portray, “Danseuse dans un interieur, carrelage vert et noir,” estimated at eight million kilos to 12 million kilos and depicting Italian countess Carla Avogadro as a reclining dancer, based on Sotheby’s. It had been in the identical assortment since 1989, the public sale home mentioned.

Perelman is value $7.eight billion, making him the 79th-wealthiest particular person within the U.S., based on the Bloomberg Billionaires Index. His fortune has tumbled from greater than $19 billion in January 2018. Revlon has struggled with a excessive debt load and confronted competitors from smaller corporations which have used social media to lure away clients.

(This story has been revealed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.)

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