Could Leonard Lauder save the art market?
That is the question being asked in some quarters as reports suggest Christie's and Sotheby's are currently battling it out for the opportunity to auction off some of the late businessman's immense collection.
Artnet reports the collection includes works by Gustav Klimt, Egon Schiele and Max Beckmann with Klimt's 1914 Portrait of Elisabeth Lederer thought to be worth as much as $200 million.
The promise of a major sale comes against a background of falling profits and job losses and would be welcomed as a major boost to the beleaguered market.
Lauder, who died in June aged 92, took over the family cosmetics empire founded by and named after his mother Estée and became a legendary figure in the New York art world along with his brother Ronald who founded the city's Neue Galerie.
Leonard was a prominent supporter of the city's Metropolitan Museum of Art, giving them his collection of Cubist art valued at around $1 billion and including work by Juan Gris and Fernand Leger, and also helped set up their research center for modern art.