Ace Gallery's Final Auction: Honoring a Legacy of Artistic Innovation Amidst Bankruptcy

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Aug 22, 2023, 08:44 ET

LOS ANGELES, Aug. 22, 2023 /PRNewswire/ -- After a remarkable journey spanning several decades, Ace Gallery, a pioneer in the contemporary art world, is preparing for its momentous final auction of remaining original works. This auction, hosted by ThreeSixty Asset Advisors, will benefit the creditors of the gallery's bankruptcy, while providing a unique opportunity for art enthusiasts and collectors. On September 12, 2023, attendees from around the world will gather online to acquire pieces from this esteemed collection and preserve its storied history.

Founded in the late 1960s, Ace Gallery established itself as an avant-garde haven for groundbreaking contemporary art. The gallery showcased artists whose works challenged conventional norms, fostering creativity and ingenuity. The exhibitions and collaborations at Ace Gallery pushed the boundaries of the art world, leaving an indelible mark on generations of artists and art enthusiasts.

As a result of financial troubles and legal challenges, Ace Gallery went through a number of bankruptcy proceedings, filing a Chapter 11 bankruptcy most recently in 2013. The Gallery continued to operate under then management until 2016, when a bankruptcy trustee and forensic accountant, Sam Leslie, took over. Leslie's investigation revealed significant financial improprieties and led to a multi-year process of winding down operations while preserving Ace's artistic legacy and safeguarding its remaining original works.

On September 12, 2023, art enthusiasts and collectors worldwide will gather online for the monumental final auction of remaining works. The collection spans various artistic styles and mediums, offering exceptional pieces that encapsulate the Gallery's unique and revolutionary spirit. Attendees can expect abstract masterpieces and thought-provoking installations, providing a once-in-a-lifetime chance to own a part of contemporary art history.

"It's with a heavy heart and profound sense of responsibility that we embark on this final chapter of Ace Gallery's journey," said Jeff Tanenbaum of ThreeSixty Asset Advisors, assisting the estate with the auction. "We have a tremendous appreciation for the Gallery's extraordinary contributions to the art world, and we are committed to ensuring that these remaining works find new homes where they will continue to inspire and provoke thought."

The auction will take place online at 360bid.sale on September 12, 2023 and feature works from such artists as Charles Fine, David Amico, Dennis Hopper, Francis Lisa Ruyter, Guy Dill, Issey Miyake, James Hayward, Jannis Kounellis, John Millei, Mary Corse, Robert Rauschenberg, Roger Herman, Tim Hawkinson and many others. Items are available for viewing and pre-auction bidding at 360bid.sale. For inquiries, email [email protected].