Sonnabend Art Collection Sold $600 million

The children of New York art dealer Ileana Sonnabend sold off most of her $900 million collection, including works by Andy Warhol to pay estate taxes and fees.

The Gagosian Gallery of New York and GPS Partners, which advises collectors on art sales and purchases, bought the works for $600 million in two private transactions this week.

Sonnabend, who died in October at 92, was one of New York's most influential art dealers. She appointed her daughter, Nina Sundell, and adopted son, Antonio Homem, as executors of her estate.