NEW YORK — Sotheby's will auction a dozen Impressionist and post-Impressionist artworks on November 18 in New York. The total estimated value of the twelve artworks is approximately $450 million.

The sale features Vincent van Gogh’s painting “Châtaigniers en fleurs” with an estimate of $180 million and Paul Cézanne’s portrait “Arlequin” with an estimate of $120 million. Neither “Châtaigniers en fleurs” nor “Arlequin” has been seen in public for 50 years. The artworks come from the private collection of Nelly Arrieta de Blaquier and Carlos Pedro Blaquier.

Helena Newman, Sotheby’s head of Impressionist and modern art, described the assembly as unprecedented. "In my 30-plus years at Sotheby’s, I’ve never had the privilege of handling a collection of quite this content and caliber," Newman said. "It’s one of the greatest remaining collections of Impressionist and Post-Impressionist art in private hands," she said.

She characterized the holding as a "mini- Musée D'Orsay." She noted that "it had this legendary, mythical status as one of the greats." "But now there is the reveal, and people will get the chance to see what it comprises," she said.

Philip Hook, a former Sotheby’s auctioneer, commented on the strategic nature of the acquisition. "No one knew really what was in it. So now, for this to be revealed, is tremendously exciting," Hook said.

He observed that the collectors focused on getting one representative work by each of the major names of Impressionist and post-Impressionist art, which he called incredibly difficult to do. "They succeeded with huge, huge style and success," he added. "They came out with a collection that, rather cleverly, is focused on getting one representative work by each of the major names (of Impressionist and post-Impressionist art), and that is incredibly difficult to do," he said.

Van Gogh painted “Châtaigniers en fleurs” in May 1890 after his release from a psychiatric asylum. The artist had voluntarily admitted himself to a psychiatric facility in Saint-Rémy-de-Provence for a year prior to this period. He painted the work in the village of Auvers-sur-Oise. Van Gogh died two months after painting “Châtaigniers en fleurs.”

“Arlequin” is one of four paintings by Cézanne depicting his son dressed as Harlequin. The other three Harlequin paintings by Cézanne are held in major museums. “Arlequin” is the only Harlequin painting by Cézanne not held by a museum.

The painting passed through the hands of dealers Ambroise Vollard, Paul Durand-Ruel, and Paul Rosenberg. It was exhibited at the Museum of Modern Art in New York, the Tate in London, and the Art Institute of Chicago. The Blaquier family purchased “Arlequin” in 1975.

Paul Cézanne’s 1890 painting Arlequin last appeared at auction in 1988, and has not been publicly exhibited since 1975. In 2012, a private sale of Paul Cézanne’s The Card Players fetched $250 million, a record for the artist, showing the premium for rare Cézanne works in private markets.

The collection includes works by Claude Monet, Camille Pissarro, Edgar Degas, and Pierre-Auguste Renoir. The works by Monet, Pissarro, Degas, and Renoir are valued in the tens of millions of dollars. The Blaquier family acquired seven works from London’s Lefevre Gallery in the 1970s, a period when the gallery was a key hub for Impressionist art dealers like Ambroise Vollard and Paul Durand-Ruel. Lefevre Gallery closed at the turn of the 21st century.

Nelly Arrieta de Blaquier served on international committees for major museums. Carlos Pedro Blaquier was president of a sugar mill. Nelly Arrieta de Blaquier died in 2020. Carlos Pedro Blaquier died in 2023.

Carlos Pedro Blaquier was investigated for crimes against humanity related to Argentina’s military dictatorship from 1976 to 1983. He was charged in 2012 with alleged participation in kidnappings during that period but died in 2023 without standing trial. Carlos Pedro Blaquier denied the allegations against him. A Sotheby's spokesperson stated that Carlos Pedro Blaquier was never convicted and maintained his innocence.

In 2023, the Blaquier family was involved in a dispute with Argentine customs officials over the export of about a dozen paintings from the collection to Luxembourg. The matter was resolved earlier this year after authorities waived the proposed penalty, clearing the way for several of those works to be included in the Sotheby’s sale.

Sotheby’s guaranteed the Blaquier collection’s $450 million estimate, a practice used in high-profile sales to ensure liquidity, though the exact guarantee amount remains undisclosed. The Blaquier collection’s $450 million estimate represents a 25% increase over the previous highest-valued Impressionist single-owner auction, the 2018 sale of the Joseph Hirshhorn Collection ($360 million). Sotheby’s has previously handled single-owner collections with similar high-value estimates, including the 2019 sale of the David and Peggy Rockefeller Collection, which fetched $1.3 billion.

The artworks were unveiled together for the first time in London on Wednesday. "Chataignier en fleurs roses et blanches" was displayed in Hong Kong ahead of the auction. She said the sale is likely to attract global attention from buyers in North America, Europe, the Middle East, and Asia.

"In times where there’s a lot of global macro geopolitical uncertainty, it’s almost like there’s a return to really established, tried and tested" works that are "unquestionably great," she said. She also noted that this museum-quality Impressionist collection is pretty rare.

Why It Matters

The $450 million estimate for the Blaquier-Arrieta collection marks a significant benchmark in the art market, representing a 25% increase over the previous record for an Impressionist single-owner auction set by the Joseph Hirshhorn Collection in 2018. Sotheby’s use of a financial guarantee for the entire estimate reflects the house's commitment to securing liquidity for such a high-profile sale, a strategy previously employed in landmark transactions like the 2019 David and Peggy Rockefeller Collection sale, which realized $1.3 billion.

The emergence of these works from private hands after decades offers a rare opportunity for public viewing and acquisition, particularly for pieces like Cézanne’s “Arlequin,” which has not been publicly exhibited since 1975. The resolution of recent legal hurdles regarding export permissions from Argentina ensures that the full scope of the collection can proceed to auction, allowing the market to determine the value of these historically significant pieces during current global economic conditions.

Timeline

Nelly Arrieta de Blaquier died in 2020.

Carlos Pedro Blaquier died in 2023.

What's New

Helena Newman stated that the holding is one of the greatest remaining collections of Impressionist and Post-Impressionist art in private hands.

The Blaquier-Arrieta collection will be auctioned by Sotheby’s in New York on November 18.