Sotheby’s to Offer $90 M. in Art from Richard Hedreen’s Collection, Ahead of Major University Gift
Sotheby’s will sell about 50 works from Seattle real estate developer Richard “Dick” Hedreen’s collection in fall and winter sales expected to total at least $90 million, ahead of a major gift to Seattle University. Two years ago, Hedreen pledged roughly 350 works to the university along with $25 million in seed money to establish a new art museum, and the family says the auction is intended to help realize that plan rather than reverse it. A top lot is Roy Lichtenstein’s “Reflections on ‘Painter and Model’” (1990), estimated at $20 million to $30 million, and another highlight is Cecily Brown’s 12-foot-wide “Untitled (Shipwreck)” (2017), estimated at $7 million to $10 million. Sotheby’s will also hold a dedicated Old Masters sale in New York in February, including Georg Pencz’s 16th-century “Portrait of Sigismund Baldinger,” estimated at $8 million to $12 million, a work returned by Germany to Baron András Herzog’s heirs in 2010 and sold that year for £5.6 million (about $8.5 million), setting a record for Pencz.
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This story was covered in Hidden Hoards, Public Fury, and Forgery Wars