01/05/2026
$200 million. 50 works. No guarantee.
Joe Lewis is sending his collection to Sotheby’s London this June. It’s expected to become the most valuable single-owner sale in the city’s history.
Klimt. Modigliani. Freud. Caillebotte. Schiele. Soutine. Picasso. Bacon.
Two details matter more than the headline number.
No third-party guarantee. The Lewises are letting the market decide. That’s the opposite of how trophy collections have been sold for the past three years. Walking away from a guarantee is a statement.
And London, not New York. The summer London sales have been quietly written off since Brexit. Routing a $200M collection there is a calculated bet that the city is being underestimated.
The fresh-to-market depth backs the bet. The Lucian Freud pictured here, “Woman in the Grey Sweater,” has been lent to museums for decades but has never come to auction. Estimate: £3M to £4M.
Previews open at Sotheby’s New York May 2 to 18. The hammer falls in London in June.
We’ll be watching closely.
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