Harry Macklowe (pictured with his wife) said he’s broke amid looming divorce from spouse of 58 years, Linda, who has a highly prized art collection
The wife of a billionaire New York property developer has apparently sought to downplay the value of her art collection as the couple go through a divorce.
Linda Macklowe’s art expert, Christopher Gaillard, said her collection – which includes works by Andy Warhol, Pablo Picasso and Mark Rothko – is worth about $625million.
But her husband Harry believes the figure is actually more like $1billion.
The art collection is a major sticking point in the highly contentious divorce, with Page Six explaining that a lower valuation on the art – which Linda has requested in the settlement – would mean she would be entitled to more of her husband’s estimated $2billion fortune.
Gaillard, who was testifying at Manhattan Supreme Court yesterday, said the Macklowes’ Alberto Giacometti sculpture – ‘The Nose’ – was worth $38million.
But according to an insurer, it is actually worth $70million.
The couple also own Andy Warhol’s ‘Nine Marilyns’ and ‘No. 7’ by Mark Rothko.
Linda had previously said: ‘Collecting is an obsessive activity so you always run out of room.
Linda Macklowe’s art expert, Christopher Gaillard, said her collection – which includes works by Andy Warhol, Pablo Picasso and Mark Rothko – is worth about $625million. But her husband Harry (pictured) believes the figure is actually more like $1billion
Gaillard, who was testifying at Manhattan Supreme Court yesterday, said the Macklowes’ Alberto Giacometti sculpture – ‘The Nose’ (pictured) – was worth $38million. But according to an insurer, it is actually worth $70million
She owns a Hamptons estate, a 20,00 sq ft apartment and a yacht. She also said she donated $2.5million in exchange for a seat on the Guggenheim Museum’s board of trustees.
Earlier this month Macklowe, 80, listed his net worth at ‘negative $400 million’ during the pair’s first Supreme Court trial hearing.
At the center of the divorce proceedings are Macklowe’s iconic properties including the 1,396-foot-high 432 Park Avenue – the tallest residential building in the Western Hemisphere – and the Apple store on Fifth Avenue as well as Linda’s museum-quality art collection.