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| Name | Paul Allen's Art Sells for a Record $1.5 Billion |
| Video Uploader | Video From Learners Nation |
| Upload Date | This Video Uploaded At 12-11-2022 03:30:09 |
| Video Discription | Paul Allen's Art Sells for a Record 1.5 Billion dollars The 60 artworks beat the record for most expensive collection sold at auction. Microsoft co founder Paul Allen’s art collection, including works by Vincent Van Gogh, Paul Cézanne and Georges Seurat, raised a record 1.5 billion dollars at a Christie's auction,a sign that wealthy collectors aren’t dissuaded by volatile securities markets and recession worries. The first of two parts of Allen’s collection being sold includes 60 pieces, with 65% of the lot selling above Christie’s high estimates. The sale was expected to bring in 1 billion dollars. The overperformance suggests the top echelon of society feels insulated from economic and political turmoil. while some buyers may see high-value art as a hedge against inflation and safer than investing in the stock market or cryptocurrency. Five paintings sold for more than 100 dollars each, which experts say is unprecedented. Seurat’s “Les Poseuses, Ensemble” was the priciest piece at 149 million dollars, exceeding its 100 million dollars estimate. The total represented the highest amount ever collected at a single art auction, according to the auction house, Christie’s in New York. Proceeds will be donated to philanthropic causes in accordance with the wishes of Allen, who died in 2018. Allen personally selected all the works, which span more than 500 years. austionc,painting,auctions,billionaire,millionaire,allen,auction,technology,chrsities auction house,forbes media,forbes digital,personal finance,jean claude monet,gs_entertain_arts,cbs 2 news evening,business,fancy art,forbes magazine,entrepreneurship,gs_busfin_business,art,paul,forbes,sezant,old art,fine art,gs_science,gs_science_weather,touch,monet,gb_safe,finance,gv_safe,gs_busfin,microsoft,investing,christies If you enjoyed this video, please subscribe to view more videos. #LearnersNation #science #education |
| Category | Education |
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