ARNAULT ANNOUCES AUCTION
PARIS — When Bernard Arnault added the prestigious Swiss art brokerage firm de Pury & Luxembourg to his luxury stable last December, he said it would thrust Phillips into the top sphere of international art auctions.
On Thursday, he cited an example, announcing a sale in New York May 7 featuring two Vincent Van Gogh and five Paul Cezanne masterpieces. The Post-Impressionist paintings are part of the celebrated collection of Heinz Berggruen, who until last week exhibited them in the Berggruen Museum, part of the National Gallery in Berlin.
LVMH Moet Hennessy Louis Vuitton said the seven works are expected to fetch more than $80 million. Simon de Pury, chairman of Phillips, De Pury & Luxembourg, will conduct the sale.