{"id":1672,"date":"2022-09-19T10:41:09","date_gmt":"2022-09-19T02:41:09","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1672"},"modified":"2022-09-19T10:41:09","modified_gmt":"2022-09-19T02:41:09","slug":"works-at-moma-from-former-president-william-paleys-collection-likely-to-sell-at-auction-for-over-70-m","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/works-at-moma-from-former-president-william-paleys-collection-likely-to-sell-at-auction-for-over-70-m\/","title":{"rendered":"Works at MoMA from Former President William Paley\u2019s Collection Likely To Sell at Auction for Over $70 M."},"content":{"rendered":"<p class=\"paragraph larva \/\/ a-font-body-m     \">A foundation set up by media mogul and CBS founder William Paley will sell a trove of artworks at Sotheby\u2019s that have long been on loan to the Museum of Modern Art in New York. The groups of works, which include paintings and sculptures by artists such as Pablo Picasso, Francis Bacon, and Auguste Rodin are expected to fetch a collective $70 million at auctions in New York and London this fall.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">On Wednesday, Sotheby\u2019s announced plans by Paley\u2019s namesake foundation to sell off 29 of the some 80 artworks that have been in the\u00a0<a id=\"auto-tag_moma\" href=\"https:\/\/www.atelierauction.com\/globalupdates\" data-tag=\"moma\">MoMA<\/a>\u2019s care since Paley\u2019s death in 1990. A majority of the proceeds will go towards expanding the museum\u2019s digital footprint, Sotheby\u2019s said in a statement. Plans for MoMa\u2019s digital initiatives include the potential launch of a streaming channel and digital art acquisitions.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Among the works set to be auctioned off include Pablo Picasso\u2019s 1919 Cubist still life\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\"><em>Guitar on a Table<\/em><\/a>, which carrie<strong>s<\/strong>\u00a0an estimate of $20 million. It will be sold during a New York evening sale on November 14. Francis Bacon\u2019s 1963 small-format triptych,\u00a0<em>Three Studies for Portrait of Henrietta Moraes<\/em>, will be offered with an estimate of $35 million on October 14 during a London sale. Other works by Andre Derain, Pierre-August Renoir, Joan Miro and Pierre Bonnard will also be sold during November and October evening sales.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Paley joined the museum\u2019s board in 1937 just eight years after the institution was founded, while still a rising media executive and nascent in his career as a modern art collector. Going on to serve as the museum\u2019s president and chairman, his donorship to the New York institution continued posthumously. Through the foundation, Paley constructed a partnership with MoMA that has allowed the museum for decades to decide how the collection could be displayed or how to use proceeds from an eventual sale of the works.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Glenn D. Lowry, MoMa\u2019s director, described the forthcoming sale as, \u201c<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\">a testament<\/a>\u201d to Paley\u2019s \u201c<a href=\"https:\/\/www.atelierauction.com\/globalupdates\">visionary philanthropy<\/a>,\u201d praising the move as part of Paley\u2019s 1990 bequest, for \u201canticipating the needs of the museum\u201d over the course of thirty years.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">According to the foundation\u2019s current president, the philanthropist\u2019s son, Bill Paley, the organization worked with the museum\u2019s curators to select which works would be auctioned. A portion of the sale proceeds will go towards the foundation\u2019s causes, which supports institutions across the arts, medicine, and media.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source: https:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A foundation set up by media mogul and CBS founder William Paley will sell a trove of artworks at Sotheby\u2019s that have long been on loan to the Museum of Modern Art in New York. The groups of works, which include paintings and sculptures by artists such as Pablo Picasso, Francis Bacon, and Auguste Rodin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-1672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Works at MoMA from Former President William Paley\u2019s Collection Likely To Sell at Auction for Over $70 M. - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"A foundation set up by media mogul and CBS founder William Paley will sell a trove of artworks at Sotheby\u2019s that have long been on loan to the Museum of Modern Art in New York.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/works-at-moma-from-former-president-william-paleys-collection-likely-to-sell-at-auction-for-over-70-m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Works at MoMA from Former President William Paley\u2019s Collection Likely To Sell at Auction for Over $70 M. - 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