
de Kooning, Interchanged

de Kooning, Interchanged
“Billionaire Ken Griffin paid about $500 million for two paintings by Abstract Expressionist masters in one of the largest private art deals ever, according to people familiar with the transaction.
Griffin bought de Kooning’s 1955 oil on canvas titled “Interchanged” — also known as “Interchange” — for about $300 million and Pollock’s 1948 “Number 17A” canvas for about $200 million, one of the people said. The de Kooning fetched $20.7 million in 1989, then an auction record for the artist and more than three times the highest pre-sale estimate of $6 million, according to Artnet, which tracks auction prices. Pollock’s work was featured in a 1949 Life magazine article that helped make him a household name.” Read more of this Bloomberg Business Article here.