ROCKLAND, Maine — The estate of renowned artist Robert Indiana — who called the island of Vinalhaven home — is now worth nearly $100 million making it the largest estate in Knox County’s history, according to court records.
Indiana, known for his iconic “LOVE” series, died at the age of 89 on May 19, 2018, at his home, the Star of Hope. Indiana, who is internationally known for his pop art style, had been living in Maine since the late 1970s.
Since his death, Indiana’s estate, managed by Rockland attorney James Brannan, has been embroiled in multiple legal battles playing out in Maine and New York. But in the same time frame, the value of his estate has grown substantially as pieces of art belonging to the late artist have been found across the globe.
“Right now we’re close to $100 million, and it’s going to be more than that because we’re still recovering pieces [of his artwork] worldwide,” Brannan said.
Indiana’s estate is currently valued at about $90 million, according to an interim accounting filing submitted by Brannan in Knox County Probate Court on Monday. About $86 million of that value is Indiana’s artwork and $4 million is real estate.
Indiana’s estate is now the most valuable ever handled in Knox County. Previously, the largest estate handled was about $23 million, according to Brannan.
At the time of Indiana’s death, Brannan estimated the estate was worth about $28 million. But as Indiana’s artwork was appraised, and more of his artwork has been located, the value has tripled. “And we’re not done locating all of his work yet,” Brannan said.
Over the past year and a half the estate has launched a large effort to locate all of the artwork that belonged to Indiana. By reviewing Indiana’s “meticulous” records, Brannan said the estate has been able to identify galleries and art collections that were supposedly in possession of Indiana’s artwork.