Pauline Karpidas’ £60M Surrealist trove hits market

Legendary art collector Pauline Karpidas is bringing her extraordinary £60 million Surrealist collection to market this September, marking the most valuable single-owner collection ever offered by Sotheby's in Europe. The 250-lot auction spans two days, September 17-18, featuring masterpieces from her London residence that transformed it into what critics call a "fantastical backdrop adorned with animal prints, a bold palette and bookcases heaving with tomes on art, dreams and philosophy".artdependence+1

At the auction's heart lies René Magritte's "La Statue volante" (1940-41), estimated at £9-12 million. According to Artnet, the painting represents "one of the most haunting and significant paintings of his late career, rich in Surrealist iconography and philosophical depth". The work's exceptional provenance traces directly to dealer Alexander Iolas, who acquired it from Magritte himself before it entered Karpidas' collection in 1985.observer+1

A Collection Born from Legendary Partnerships

Karpidas' collecting journey began 50 years ago when she met Greek-American dealer Alexander Iolas, who famously came out of retirement in 1974 to guide her acquisitions. The collection showcases works by Salvador Dalí, Pablo Picasso, Andy Warhol, and Jeff Koons, alongside custom furniture by Claude and François-Xavier Lalanne created specifically for her residence.news.artnet+2

The auction includes seven Magritte works, capitalizing on the artist's market surge. According to Observer, Magritte generated $312.3 million across 119 lots in 2024, rising from $192.7 million in 2023. This momentum followed a 2024 auction record when "L'empire des lumières" sold for $121.16 million at Christie's.observer

Other highlights include Andy Warhol's "The Scream (After Munch)" (£2-3 million) and Jeff Koons' "Poodle" (£1-1.5 million), which once greeted visitors in Karpidas' entrance hall. The sale also features sixty works by Les Lalanne, many commissioned specifically for Karpidas and never before seen at auction.fadmagazine+1

Record-Breaking European Sale

The total estimate exceeds Sotheby's previous European record of £45 million for a 2011 unnamed collection that ultimately sold for £93.5 million with fees. Oliver Barker, Sotheby's European chairman, told The Art Newspaper that "the property in this collection speaks for itself" despite current market conditions.theartnewspaper

Karpidas, now in her 80s and primarily residing in New York, describes herself as a "temporary custodian" for artists' creations. "It feels like the right moment for the pieces that make up my London home to find their next generation of custodians," she said.news.artnet+1

The exhibition opens September 8 at Sotheby's New Bond Street, recreating Karpidas' distinctive world through an immersive display designed by the team behind the record-breaking Freddie Mercury exhibition.fadmagazine