Husband and wife to sell off art collection amid $676m divorce settlement

Billionaire Thomas Peter Petrie and his wife Jill Petrie have agreed to sell off tens of millions of dollars of art that has been held as part of a divorce settlement in Westchester County, New York.

Thomas Petrie settled the contentious divorce case in February but the sale of the $676m worth of paintings has not yet been finalized, said his lawyer. The deal was reported last week by Art Market Monitor.

Billionaire couple to sell half of their art collection for $67m Read more

The Petries, both 50, were married for 23 years. They have two young daughters, ages 11 and 15.

All the paintings were valued at a little less than $800m, according to Karen Petrie’s lawyer, Cheryl Bursch. It was not immediately clear how much the paintings would sell for.

Bursch said the deal would not affect the sale price, but she declined to comment on the nature of the sale, citing confidentiality rules of the settlement.

Most of the art has been owned by the billionaire Petrie family or their consignor, John Cawley, since 2002, said Bursch.

The 10 pieces that make up the Petrie collection include works by Monet, Monet and Renoir, as well as paintings by Walton Ford, Paul Cézanne, Claude Monet, Marc Chagall, Pablo Picasso, Jasper Johns, Edvard Munch and Salvador Dali.

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