She was one of the most powerful women in the art world. Three works from her collection could sell for nearly $150 million

A Legacy of Generosity and Vision

She was one of the most – Agnes Gund, a name synonymous with artistic patronage, spent over a decade steering the Museum of Modern Art in New York as its president. Her impact extended far beyond the walls of the institution, as she gave away more than 1,800 artworks to cultural and educational organizations throughout her life. A pivotal moment in her career occurred when she sold her cherished Cy Twombly piece for $165 million to support a groundbreaking anti-incarceration project. This act of generosity, paired with her contributions to AIDS research and reproductive rights advocacy, cemented her reputation as a champion of societal causes through art.

The Final Chapter: A Christie’s Auction

As Agnes Gund neared the end of her life, the legacy of her art collection faced a new chapter. Just weeks before her passing in 2025 at 87, the collection’s most iconic works were set to be auctioned. Three masterpieces—each from a distinct era and style—would be sold next week at Christie’s, marking a significant event in the art world. The auction, scheduled for May 18, will be part of Christie’s broader 20th- and 21st-century evening sale in New York. These pieces, once displayed in her Upper East Side home, are expected to collectively fetch nearly $150 million, with individual estimates hovering near the upper limits of their respective artists’ market histories.

“Her relationships with artists were the foundation of her identity,” remarked Sara Friedlander, who leads Christie’s “Post-war and Contemporary Art, Americas” department. “It’s through those connections that she amassed such extraordinary works, each carrying a unique story.”

The Three Masterpieces

Among the three works, one of Mark Rothko’s paintings stands out. Created in 1964, “No. 15 (Two Greens and Red Stripe)” is a sweeping composition of deep black, inky green, and a bold red stripe, reflecting the artist’s signature style. Rothko began the iconic 14-paneled Rothko Chapel in Houston the same year, which became his final body of work before his death in 1970. According to Christie’s, Gund acquired this painting directly from the artist in his studio. Initially seeking a lighter composition, she was swayed by Rothko’s recommendation, resulting in a piece that remained in her possession for decades. The painting was only loaned to the Cleveland Museum of Art for a brief month in 1972, a gesture that highlighted her close ties to the institution, where she had spent childhood summers in Ohio.

Cy Twombly’s untitled work, crafted during his Rome period in 1961, was another cornerstone of her collection. Acquired in 1988, it became a staple in her living room, often visible above the mantel. Joseph Cornell’s contribution, a wooden box assemblage from his “Medici” series, was added to her holdings in 1980. These pieces were not merely possessions but integral to her daily life, as noted by Friedlander. “She lived with these works as if they were extensions of her personality,” he explained. “Every room in her home seemed to echo her passion for art, with each piece carefully placed to reflect her vision.”

Rothko’s Record: A Potential Milestone

The Rothko painting’s estimated value of $80 million could set a new benchmark in the art market. If it surpasses the $86.8 million paid for “Orange, Red, Yellow” in 2012, it would become the most expensive contemporary artwork ever sold at auction. However, the artist’s private sale record, reportedly $186 million, remains a staggering benchmark. The Twombly piece, meanwhile, could reach up to $60 million, with a previous record of $70.5 million. Joseph Cornell’s work, though less expensive at an estimated $5 million, holds a record of $7.8 million, underscoring the rarity of his creations.

A Lifelong Commitment to the Arts

Agnes Gund’s influence on the art world began long before her presidency at MoMA. In 1967, she joined the museum’s international council, a non-profit organization established in 1956 to bolster artistic exchange between the U.S. and global communities. By that time, New York had already established itself as the epicenter of artistic innovation. Her dedication to the arts deepened as she oversaw MoMA’s $858 million expansion in the 1990s, a transformative project that redefined the institution’s role in contemporary art. Crucially, she advocated for increased support of living artists, ensuring their works had ample space to thrive.

Gund’s contributions to the arts were not limited to MoMA. She played a vital role in the board of the Cleveland Museum of Art, Morgan Library & Museum, Frick Collection, and several foundations, including the Andy Warhol and Robert Rauschenberg Foundations. Her influence extended to national levels when former President Barack Obama appointed her to the National Council on the Arts in 2011. Beyond her professional engagements, her personal initiatives left an indelible mark, particularly through the Studio in a School program. Now in its fifth decade, the program has provided artistic education to thousands of students, a testament to her belief in the transformative power of creativity.

The Ripple Effect of a Philanthropist

Her generosity shaped not only the art world but also broader cultural narratives. The sale of the Lichtenstein painting in 2017, for instance, underscored her willingness to invest in causes she believed in. By the time of her death, over 1,000 of her donated works had found a home in MoMA’s collection, with additional pieces distributed to other institutions. Her ability to balance personal taste with public impact was a hallmark of her career. “She understood that art was not just about ownership but about sharing,” said Friedlander. “Each piece in her collection was a bridge between her private world and the public sphere.”

The upcoming Christie’s auction serves as a final chapter in her journey. While much of her collection had already been gifted to museums, these three works remain as symbols of her enduring connection to the artists she admired. The sale will not only generate substantial funds but also provide a glimpse into the legacy of a woman who transformed how art was valued and supported. As the auction approaches, art historians and collectors alike await the moment when her passion for creativity will be shared once more, this time with a new audience. The event highlights a rare intersection of personal history and cultural impact, ensuring that her contributions will be remembered for generations to come.