She was one of the most powerful women in the art world. Three works from her collection could sell for nearly $150 million
She was one of the most powerful women in the art world. Three works from her collection could sell for nearly $150 million
She was one of the most – Agnes Gund, a visionary art patron, left an indelible mark on the cultural landscape before her passing in 2025. Her legacy includes a tenure as president of the Museum of Modern Art in New York that spanned over a decade, during which she reshaped the institution’s trajectory. Beyond her leadership role, she became a pivotal figure in philanthropy, donating more than 1,800 artworks to museums and organizations across her lifetime. One of her most notable acts was selling her cherished Cy Twombly piece for $165 million to support a groundbreaking initiative against mass incarceration. This generosity reflected a lifetime of commitment to art and social causes, from AIDS research to reproductive rights advocacy.
Her Lasting Influence on the Arts
Gund’s contributions to the art world were as dynamic as her collection. Even in her final years, she remained deeply connected to the field, often prioritizing relationships with artists over financial gain. Her ability to bridge the gap between creators and institutions earned her widespread respect. In 1991, she assumed the presidency of MoMA, overseeing its transformative $858 million expansion. This period also saw her push for greater support of contemporary artists, advocating for expanded exhibition spaces and resources. Her work at MoMA began earlier, in 1967, when she joined the museum’s international council—a body established in 1956 to strengthen artistic ties between the U.S. and global institutions. By the time of her death, her influence had extended far beyond New York, shaping cultural policies and initiatives worldwide.
Gund’s dedication to the arts was not confined to MoMA. She played a central role in the development of MoMA P.S.1, chairing its board for over two decades. This institution became a vital hub for experimental art, a space where emerging voices could thrive. Her efforts were mirrored in other organizations, including the Cleveland Museum of Art, the Morgan Library & Museum, the Frick Collection, and the Andy Warhol Foundation. Former President Barack Obama recognized her impact by appointing her to the National Council on the Arts in 2011, underscoring her national significance.
The Sale of a Historic Collection
As the art world mourns the loss of a titanic figure, a major event is set to unfold: the auction of three key works from Gund’s private collection. Scheduled for May 18, this sale will be part of Christie’s broader 20th- and 21st-century evening auction in New York. The trio—features by Cy Twombly, Joseph Cornell, and Mark Rothko—could collectively fetch nearly $150 million, a staggering figure that highlights the enduring value of her acquisitions. Among these, Rothko’s “No. 15 (Two Greens and Red Stripe)” stands out as a potential milestone.
“She put artists first,” said Sara Friedlander, chair of the ‘Post-war and Contemporary Art, Americas’ department at Christie’s. “Her relationships with artists were at the core of her being, and it’s how she was able to acquire such incredible works.”
Rothko’s piece, created in 1964, is part of a series that culminated in the Rothko Chapel in Houston—a project he completed in the years before his death in 1970. According to Christie’s, Gund acquired this particular work directly from the artist in his studio. While she initially sought a lighter composition, Rothko offered a bold alternative that would eventually become a centerpiece of her home. The painting remained in her Upper East Side residence until a brief one-month loan in 1972 to the Cleveland Museum of Art, a place she had visited as a child in Ohio.
The Twombly work, an untitled painting from his Rome period in 1961, was added to her collection in 1988. Its abstract, expressive style mirrored her appreciation for dynamic creativity. Similarly, Joseph Cornell’s wooden box assemblage from his ‘Medici’ series, acquired in 1980, became a cherished part of her domestic space. “These were the paintings and the objects that she just wanted to live with every day,” Friedlander noted. “When you would go into her living room, you would sit on the couch, and you would see the Rothko to your right and the Twombly straight ahead above the mantel.”
The estimated prices for the sale are aligned with each artist’s auction history, but they may reach unprecedented levels. The Twombly painting could surpass $60 million, with a record of $70.5 million set in previous sales. Cornell’s piece might achieve $5 million, though its previous high was $7.8 million. The Rothko, however, presents a unique opportunity. With an estimated $80 million, it could eclipse the 2012 sale of “Orange, Red, Yellow,” which fetched $86.8 million and became the most expensive contemporary artwork ever publicly sold. Notably, the artist’s record through private sales is rumored to be even higher, at $186 million.
Philanthropy and Cultural Advocacy
Gund’s legacy is not solely defined by her acquisitions but by her unwavering commitment to social causes. Her philanthropy extended beyond the arts, supporting initiatives like AIDS research and reproductive rights. This generosity, however, was not without challenges, as wealth inequality has shifted the balance of cultural funding over time. While tech billionaires increasingly prioritize their own interests, Gund’s approach—rooted in communal impact—remains a benchmark for modern philanthropy.
Her influence also reached the halls of education. The Studio in a School program, which she championed, has been a cornerstone of arts education for over five decades. This initiative, born from her belief in the transformative power of creativity, has provided resources to underserved communities, ensuring access to artistic experiences for generations. Even as her collection was gradually given to museums, her advocacy continued to shape policies and programs, leaving a lasting imprint on both the arts and social justice movements.
Gund’s journey in the art world began with her early involvement in MoMA, which laid the foundation for her later leadership. Her work at the museum was instrumental in expanding its global reach and fostering innovation. The sale of her collection now symbolizes a new chapter, one where her legacy is being reimagined through the lens of market value. Yet, the significance of the auction lies not just in the figures but in the stories of the artists and the causes she supported. As the art world reflects on her contributions, the sale of these works may not only redefine financial benchmarks but also reaffirm the enduring power of her vision.
