Collection of Old Masters Poised to Break Auction Records

With discerning taste and a sprawling Park Avenue apartment to fill, American philanthropists Jordan and Thomas A. Saunders III spent decades acquiring a storied collection of European Old Master paintings. Now, this collection is heading to Sotheby’s, where it is likely to set several new auction records in May.

The story of the Saunders’ art collection begins in 1998, when Jordan Saunders found herself captivated by an 18th-century landscape painting by Francesco Guardi, an Italian Rococo artist. “It was a little jewel, and all afternoon, I kept coming back to visit it,” Saunders later recounted. “I swear I heard that little picture speak to me, ‘please buy me, buy me’.”

With help from George Wachter, now Sotheby’s chairman and co-worldwide head of Old Master painting, Saunders and her husband purchased the landscape painting. From there, the couple amassed what Sotheby’s calls “one of the greatest Old Master collections assembled in our times.” Wachter said, “The collection is truly one of a kind. This auction is a profound full circle moment for me, and it is an honor to once again play a part in shepherding these works into the next great collections.”

Spanning the 16th to the early 19th centuries, the Saunders’ Old Master collection comprises paintings from across Europe. Among these are still life paintings by Jan Davidz. de Heem and Luis Meléndez, both of which are poised to set new artist records when they hit the auction block. There are also exceptional portraits by Frans Hals and Sir Thomas Lawrence, each worth millions.

Collection Could Fetch up to $120 Million at Sotheby’s

Sotheby’s is billing the collection of Jordan and Thomas A. Saunders III as the most valuable single-owner collection of Old Master paintings ever to appear at auction. With a pre-sale estimate of $80 million to $120 million, the sale is expected to exceed the $76 million total achieved by the Fisch Davidson collection at Sotheby’s New York in 2023.

A total of 56 paintings from the Saunders’ collection will be sold in the dedicated sale on May 21—Elegance & Wonder: Masterpieces from the Collection of Jordan and Thomas A. Saunders III. A few additional works will feature in Sotheby’s Master Paintings sale on May 22. The sale of the Old Masters collection follows Sotheby’s 2024 sale, Elegance & Wonder: The Jordan Saunders Collection, which focused on interiors designed by Jordan Saunders.

In a press release, Sotheby’s said, “Tom Saunders and his wife Jordan spent years in dedicated pursuit of exceptional Old Master Paintings, seeking out works of the very best quality and provenance, and meeting a community of collectors and dealers along the way who shared their same passion.” Over the years, the Saunders worked especially closely with George Wachter. He said, “This collection could never have been assembled without the Saunders’ steadfast determination, decisiveness, impeccable eye, and unwavering trust in me, for which I am deeply grateful.”

Before the Sotheby’s sales in New York, the Saunders’ collection will feature in a traveling exhibition, beginning in London on February 28. Additional stops will follow in Amsterdam (March 10-14), Brussels (March 18-20), Los Angeles (April 10-11) and Hong Kong (April 18-23).