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All told there are 60 lots, which carry an overall estimate of $1b to $1.38b. (The following day comes a second sale with lower-priced works from Allen’s collection, with a total estimate of $58m to $87m.) This assumes, of course, that there will be bidders. Any mere billionaire can buy a $10m painting. But how many are liquid enough to spend $100m? And how many actually want to?
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Dealers who cater to ultrahigh net worth clients say the demand is there. The dealer Christophe Van de Weghe estimates that there are roughly 300 total candidates for a $120 million painting. “But who will bid is a different story,” he says.
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