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Billionaire Plans to Part With $35 Million Painting at Hong Kong’s Art Basel

  • ‘Untitled XII’ will be for sale at Art Basel Hong Kong
  • The 1975 painting fetched $517,000 at auction in 1987
Bloomberg business news

Levy Gorvy Gallery’s Brett Gorvy discusses art in Asia, and an abstract painting by Willem de Kooning "Untitled XII."

(Source: Bloomberg)
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Billionaire Paul Allen plans to part with a trophy from his prized art collection.

A vibrant abstract painting by Willem de Kooning, “Untitled XII,” will be among the top highlights of Art Basel Hong Kong, an international fair that opens next week. Priced at $35 million, the canvas will be offered by Levy Gorvy Gallery.