Master of the Magdalene Legend, Portrait of Margaret of Austria, likely painted around 1495

Artnews_ Sotheby’s has been consigned a large collection of Old Master paintings, sculptures, English furniture and other decorative art objects from the collection of Aso O. Tavitian. The house will sell those works this coming February during its Masters Week series, where these artworks are expected to bring in at least $14 million. The proceeds will go toward the Bulgarian-American software entrepreneur and philanthropist’s foundation.

Among the offerings are Portrait of Margaret of Austria (ca. 1495) by Master of the Magdalene Legend, which comes with an estimate of $1.5 million to $2 million; Daniele Crespi’s Madonna and Child (ca. 1620), which has an estimate of $300,000 to $500,000; and a ca. 1520 marble bust of Penelope from Northern Italy, which is expected to sell for more than $200,000.

George Wachter, Sotheby’s chairman and co-worldwide head of Old Master paintings, told ARTnews that he advised Tavitian on several purchases, including Ambrosius Benson’s Saint Mary Magdalene Reading an Illuminated Manuscript (estimate $600,000 to $800,000).

About seven or eight years ago, Wachter was visiting Moscow, where Saint Mary Magdalene Reading an Illuminated Manuscript was on view; soon, it would be sold by Sotheby’s in London. “I called Aso, and I said, ‘This is something that I think you’re going to like.’ And then he saw it, and he loved it, and he bought it.” Wachter said. “It’s a beautiful, beautiful picture that I love, and it’s hanging in my office.”

Ambrosius Benson’s Saint Mary Magdalene Reading an Illuminated Manuscript. Courtesy of Sotheby’s

The foundation named after Tavitian, who died in 2020, recently facilitated a posthumous gift of hundreds of artworks to the Clark Art Institute in Williamstown, Massachusetts. The donation also included $45 million in funding for a new curatorial position, ongoing care of the collection, and for a new Aso O. Tavitian Wing focused on European artworks, scheduled to open in 2027 or 2028. Tavitian was a former trustee of the museum.

To determine which items would go to the Clark and which items would go on the block at Sotheby’s, the foundation relied heavily on the Clark. “It was really a dialogue with the curators, and their judgment was the most important factor in where things would go,” foundation president Candace Beinecke told ARTnews. “We did ask them to be clear that everything they took was something they really, really wanted, because we wanted to have a vibrant sale and an ability to fund the foundation.”

The Tavitian Foundation also consulted Old Masters specialist and art consultant Etienne Bréton, Tavitian’s wife Isabella Meisinger, and art restorers David and Teresa Bull. “David is the person who was closest to Aso in forming the collection,” Beinecke said.

Tavitian’s collection of decorative arts, including all of his English furniture, didn’t go to the Clark. Sotheby’s plans to auction those items in February at a price point that will also be accessible to many newer and younger collectors. “There’s a lot of things that are in the under $10,000 range, and that are sold without reserve,” Wachter said.

Bernardo Polo, Still Life with Two Artichokes and a Bowl of Fruit. Courtesy of Sotheby’s

In terms of the current auction market, Wachter noted one of the factors attracting collectors to Old Masters is the ability to buy beautiful items for $10,000 to $30,000. “In other areas, it’s harder to find the same kind of level of quality for that kind of money,” he said, noting Sotheby’s last sale in the category had 40 percent new buyers. “We have a mix of older collectors and younger collectors, and they’re coming to us. Are there as many as in contemporary? No, there are not, but there are plenty. And this is a collection—it’s not going to be hard [to sell] because it’s so pretty.”