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Has Alice Walton Made Another Art Purchase?

1 min read

There’s been a raft of art sold in New York this week, a pair of Mark Rothko works among them. Today, two pieces by Andy Warhol go on the block.

Today, the New York Times notes speculation surrounding the new owner of one of Jasper John’s “Flag” paintings, which sold Tuesday at Sotheby’s. Could it be a certain art collector with a museum in northwest Arkansas?

Mark Lancaster, the British artist who had worked for Mr. Johns, was the seller. Although it was small (just shy of 12 inches by 18 inches), its rough encaustic surface — created from pigment suspended in wax — gave it a tactile quality that appealed to collectors. Four bidders went for the “Flag,” which ended up selling for $36 million, way above its high $20 million estimate.

As soon as the gavel fell, rumors started circulating about who the buyer could be. Although Sotheby’s declined to comment, some dealers said it was bought by Alice L. Walton, the Walmart heiress who founded the Crystal Bridges Museum of American Art in Bentonville, Ark.

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