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His estate was worth $68.3 million ($1.39 billion in today's dollars based on CPI, or $25.2 billion based on share of GDP), of which about $30 million represented his share in the New York and Philadelphia banks. The value of his art collection was estimated at $50 million.
This sale tripled the previous record, and introduced a new era in top art sales. Before this, the highest absolute price paid for a painting was £8.1 million (£22.9 million in 2023 currency) paid by the J. Paul Getty Museum for Andrea Mantegna 's Adoration of the Magi at Christie's in London on 18 April 1985. [ 5 ]
The highest known price paid for an artwork by a living artist was for Jasper Johns's 1958 painting Flag. Its 2010 private sale price was estimated to be about US$110 million ($154 million in 2023 dollars). All-time This is a list of highest prices ever paid—at auction or private sale—for an artwork by an artist living at time of sale. Adjusted price (in millions of USD) Original price (in ...
In a recent paper, Jianping Mei and Michael Moses of JP Mei & MA Moses Art Market Consultancy found that the average return on art sold in the first of half 2024 was just 0.1%, the lowest yield ...
The Morgan family is an American family and banking dynasty, which became prominent in the U.S. and throughout the world in the late 19th century and early 20th century.. Members of the family amassed an immense fortune over the generations, primarily through the work of Junius Spencer (J.S.) Morgan (1813–1890) and John Pierpont (J. P.) Morgan Sr. (1837–19
Art sales slow in downturns resulting in the market becoming more illiquid. There is a greater degree of liquidity risk facing the art investor than with other financial assets because there is a limited pool of potential buyers, and with artworks not reaching their reserve prices and not being sold, this has an effect on the auction prices. [11]
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The Morgan Library & Museum (originally known as the Pierpont Morgan Library; colloquially the Morgan) is a museum and research library at 225 Madison Avenue in the Murray Hill neighborhood of Manhattan in New York City, New York, U.S. Completed in 1906 as the private library of the banker J. P. Morgan, the institution has more than 350,000 objects.