Billionaire Bill Koch has parted with a monumental tranche of his Western art holdings, shattering records at Christie's auction house. The two-part sale, Visions of the West: The William I. Koch Collection, was one of the most highly anticipated auctions in its category and became the most successful Western art auction of all time, grossing $84.1 million with fees.
As soon as the evening sale began, records started to tumble. A Frederic Remington painting, An Argument with the Town Marshal, set a new record for the artist, selling for $11.85 million over a $6 million high estimate just seven lots into the sale. Two minutes later, Charles Marion Russell's Dust set another new benchmark for a single-owner Western art sale, while Alfred Jacob Miller's The Buffalo Hunt soared past its high estimate to land at $4.7 million.
The top-selling piece was Remington's Coming to the Call, which more than doubled its low estimate to reach $13.29 million over an $8 million high estimate, setting a new record for the artist. Other notable sales included Coming Through the Rye, which realized $9.95 million, and G. Harvey's Texas Oil Patch, which brought in $2.1 million.
The sale not only shattered records but also set a new benchmark for Western art, with 95% of lots sold and a hammer plus premium figure that hit 165% above the sale's low estimate. The market response was described as "beyond enthusiastic" by Christie's American Art Department head Tylee Abbott, who noted that Western Art is now commanding center stage in the art world.
For Koch, this sale marked the culmination of decades of building a collection that embodied his deep love for the American West. The collection included not only artwork but also firearms, maritime memorabilia, and wine, reflecting Koch's passion for the region that shaped him. Despite selling part of his legacy, Koch expressed gratitude at knowing others will enjoy the works as much as he has, saying "Though I will miss these works... it gives me great pleasure knowing others will enjoy them as much as I have long into the future."
This sale marks another milestone in the market for Western art, solidifying its position as a highly sought-after category among collectors and auction houses.
As soon as the evening sale began, records started to tumble. A Frederic Remington painting, An Argument with the Town Marshal, set a new record for the artist, selling for $11.85 million over a $6 million high estimate just seven lots into the sale. Two minutes later, Charles Marion Russell's Dust set another new benchmark for a single-owner Western art sale, while Alfred Jacob Miller's The Buffalo Hunt soared past its high estimate to land at $4.7 million.
The top-selling piece was Remington's Coming to the Call, which more than doubled its low estimate to reach $13.29 million over an $8 million high estimate, setting a new record for the artist. Other notable sales included Coming Through the Rye, which realized $9.95 million, and G. Harvey's Texas Oil Patch, which brought in $2.1 million.
The sale not only shattered records but also set a new benchmark for Western art, with 95% of lots sold and a hammer plus premium figure that hit 165% above the sale's low estimate. The market response was described as "beyond enthusiastic" by Christie's American Art Department head Tylee Abbott, who noted that Western Art is now commanding center stage in the art world.
For Koch, this sale marked the culmination of decades of building a collection that embodied his deep love for the American West. The collection included not only artwork but also firearms, maritime memorabilia, and wine, reflecting Koch's passion for the region that shaped him. Despite selling part of his legacy, Koch expressed gratitude at knowing others will enjoy the works as much as he has, saying "Though I will miss these works... it gives me great pleasure knowing others will enjoy them as much as I have long into the future."
This sale marks another milestone in the market for Western art, solidifying its position as a highly sought-after category among collectors and auction houses.