One of the country's most important art collections is up for sale for $450 million.

A major art collection valued at 450 million dollars is set to go up for sale, marking a potential end to one of Argentina's most iconic private art holdings. The collection, once kept under strict secrecy by its founder, Nelly Arrieta de Blaquier, includes works by renowned artists such as Van Gogh, Cézanne, Monet, Renoir, Degas, and Gauguin. If confirmed, the sale would take place through Sotheby’s, though neither the family nor the auction house has officially commented on the matter. The collection was first sent abroad in June 2019, with several key pieces exported to Luxembourg for preservation and display. The move followed a formal process involving customs authorities, and some artworks were even published in the official gazette seeking domestic buyers who could prevent their permanent departure from Argentina. At the time, the prices set by the exporter were validated by the Ministry of Culture. Among the notable works, two versions of Monet’s Nymphéas, one dated 1904 and another from 1908, were estimated at $50 million and $42 million respectively, while Maurice De Vlaminck’s La Naturaleza muerta con cántaro azul was valued at $5 million. Paul Signac’s Les Andelys, Port Morin, created in 1886, was appraised at $3.5 million. Despite the temporary export permits, the collection did not return to Argentina, leading to a fine of over 7.3 billion pesos imposed by customs authorities. This highlights the legal complexities surrounding the ownership and movement of high-value artworks. Some of the collection’s most prized items have already been sold, including Van Gogh’s Zouave, which fetched around 190 million dollars in a private sale. Christie’s had previously handled several of the Blaquier family’s works, including this iconic piece. In November, the auction house sold two smaller Paul Signac paintings and also acquired the family’s famous silverware collection, valued between 15 and 20 million dollars, with a planned auction in London later this year. Sotheby’s appears to be in the running for the entire collection, according to reports, offering more favorable guarantees than its competitor. However, both the family and Sotheby’s have declined to comment directly on the potential sale. While the exact contents of the upcoming auction remain unclear, speculation suggests that some of the most celebrated works, such as Van Gogh’s Châtaignier en fleurs roses et blanches, could be among the offerings. Estimated to fetch between 150 and 200 million dollars, this painting represents a significant portion of the collection’s value. The sale raises broader questions about the future of private art collections in Argentina and how they will be managed after the passing of Nelly Arrieta de Blaquier in 2020 and her husband, Carlos Pedro Blaquier, in 2023. With the collection now in the hands of five children, the decision to sell reflects a complex interplay of financial, cultural, and legal considerations. As the auction approaches, the world of art markets will be watching closely to see which masterpieces will eventually find new homes.