Art

Ivanishvili Sells De Kooning Painting for $59 Million

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ივანიშვილი და უილიამ დე კუნინგის ტილო Photo: nyoobserver.com

Former Prime Minister and founder of Georgian Dream party, Bidzina Ivanishvili, has sold one of his paintings for $59 million at Christie’s postwar and contemporary auction. The author of the painting is Willem de Kooning, a Dutch-American abstract expressionist artist born in 1904. This particular work dates back to 1977.

The painting was primarily estimated to be worth $40 million USD but was eventually sold for $19 million more to an anonymous buyer. The auction included a selection of paintings whose total worth valued $239.5 million, including the works of Roy Lichtenstein, Jean Dubuffet and others. Many of the paintings of these artists are owned by Bidzina Ivanishvili.

Bidzina Ivanishvili is the owner of the largest private collection of art in the country. There is no exact information pertaining to the cost of these paintings, however, the overall sum is estimated at more than $900 million. None of these paintings or sculptures are included in Ivanishvili’s property declarations.

In 2006, Ivanishvili paid $95 million for Picasso’s famous painting, “Dora Maar with Cat”. At the time, it was the largest bid for a painting seen at an auction.

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