Sotheby’s to auction art collection of billionaire Taubman

NEW YORK (AP) — Sotheby’s says the art collection of a billionaire developer, which includes works from Picasso, de Kooning and Rothko, is coming up for sale.

The New York auction house said Thursday it would be selling A. Alfred Taubman’s collection in a series of auctions in November and January. It said the collection was valued at more than $500 million.

Sotheby’s said the auctions would include a modern and contemporary art sale and an American art sale.

Taubman died in April. He introduced shopping malls to the American public and also had a long history of donating to philanthropic causes.

He served as chairman of the auction house from 1983 to 2000, but was convicted in 2001 of price-fixing in connection to auction commissions. He spent about a year in prison.