Largest private art sale ever at $600m

One collection that Sotheby's and Christie's will not be selling this season is that of Ileana Sonnabend. In what has been described as the largest private sale of art ever, the heirs of the legendary New York dealer who died in October 2007 have recently parted with some $600m worth of paintings and sculptures (including Jeff Koons’ 1986 Rabbit valued at $80m) to cover their estate taxes.