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The pandemic kept most plum art estates away from auction in 2020, but Sotheby’s just landed the Texas-size collection of Fort Worth rancher and oil heiress Anne Marion. Ms. Marion, who died early last year at age 81, was married to a retired Sotheby’s chairman and famed auctioneer, John Marion.

Beginning in May, Sotheby’s plans to sell roughly 200 works worth at least $150 million combined from Ms. Marion’s estate of 20th century art and jewelry. It is shaping up to be the art market’s first major estate test of the year.

41A25164 A412 4357 9765 FDDC263551EEAndy Warhol’s 1963 silkscreen ‘Elvis 2 Times,’ is expected to fetch at least $20 million at the auction of works from Anne Marion’s estate. SOTHEBY'S

None of the pieces in the initial set of 18 postwar paintings coming up for bid in New York is expected to fetch the $92 million spent at Sotheby’s last month for a Botticelli. However, the Marion estate contains several colorful trophies in the $20 million to $35 million range that could gauge bidders’ willingness to splurge. “The market feels comfortable at those levels,” said Amy Cappellazzo, Sotheby’s chairman of fine art.

Many of the works have been out of sight since Ms. Marion bought them in the 1980s and 1990s, including Clyfford Still’s red and ocher abstract from 1948, “PH-125 (1948-No. 1),” which is estimated to sell for at least $25 million. Others nod to Ms. Marion’s cowgirl upbringing, like Andy Warhol’s gun-toting silkscreen from 1963, “Elvis 2 Times,” which is estimated to sell for at least $20 million. Even the turquoise and apricot hues of Richard Diebenkorn’s 1971 “Ocean Park No. 40” evoke the Southwest, said Sotheby’s senior international specialist Michael Macaulay.

Read more on The Wall Street Journal:

https://www.wsj.com/amp/articles/sothebys-to-auction-art-from-texas-heiresss-estate-11614184245

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