Auctioneer Phillips de Pury & Company will open its landmark space at 450 Park Avenue in New York on October 30 with a preview of its new Carte Blanche and Contemporary Art Part I evening sale. The auction on Nov. 8 will feature a blockbuster set of artworks with a low estimate of approximately $80 million. If the sale reaches above $59 million, it will be a milestone in the history of the company.

Phillips touts Carte Blanche as a new and innovative series of sales curated by notable art world figures.

"This sale will be a game changer in the way auctions are being prepared,” says Simon de Pury, the company's chairman.

The inaugural Carte Blanche is organized by private art advisor Philippe Ségalot, formerly of Christie's. Acting like a guest curator, Ségalot assembled an arresting array of 33 major works by Andy Warhol, Takashi Murakami, Cindy Sherman, Jean-Michel Basquiat, and other modern and contemporary artists, largely culled from prominent private collections.

Among the headliner lots is Maurizio Cattelan's sculptural nude bust of supermodel Stephanie Seymour (est. $1.5 million-$2 million). One in a series, the likeness is a reference to Seymour as the "trophy wife" of print mogul Peter Brant who commissioned the piece. (The portrait bust was begun before the bickering couple began and halted divorce proceedings.)

Another rare-to-market stand-out is Warhol's “Men in Her Life,” a painting based on the marriages of actress Elizabeth Taylor which combines many of the central themes of the Pop artist's oeuvre: celebrity, wealth, scandal, sex, death, Hollywood, icons of American life. It was painted during Warhol's pivotal artistic period in the fall of 1962 and is among his earliest silkscreen paintings. Bidders may take it up to $50 million, according to the New York Times.

Located at the corner of 57th Street and Park Avenue, the auction and exhibition gallery has undergone an extensive nine-month renovation and will feature three floors with 25,000 square feet of exhibition space.

The new Phillips gallery will host the Carte Blanche series of exclusive curated auctions, high-end Contemporary Art, Design, Photography, Jewelry and single owner sales as well as events. The Chelsea space at 450 West 15th St. and other international locations will remain open as well.