Macklowe divorce battle over $1B art collection

Harry and Linda Macklowe, prominent American art collectors, are divorcing after over 50 years of marriage. Harry, an 80-year-old real estate magnate worth about $2 billion, offered Linda the entire collection valued at $1 billion to expedite the divorce. Linda rejected the offer, with her advisors valuing the collection at $625 million. The dispute centers on Alberto Giacometti's "The Nose," which Linda's art consultant Christopher Gaillard appraises at $38 million, far below the $70 million Harry paid. The collection includes 170 museum-quality works by Picasso, Pollock, Rothko, Warhol, and Giacometti. Linda serves on the boards of the Metropolitan Museum and the Guggenheim, having donated $2.5 million to the latter, and is a visual arts consultant for New York City. Unlike Roman Abramovich and Dasha Zhukova's private separation, the Macklowes face a protracted public divorce, forcing them to disclose asset values.