Peter Simon, founder of the fashion retailers Monsoon and Accessorize, is set to auction nearly 300 works from his private art collection next month. The collection, estimated by Christie’s to be worth between £87 million and £127 million, includes pieces by artists such as Barbara Hepworth, Bridget Riley, Beatriz Milhazes, Hurvin Anderson, Francis Bacon, and Andy Warhol.

Simon, who established Monsoon in 1973 with a market stall on Portobello Road, built his collection over several decades, inspired initially by British painters including Bacon and Howard Hodgkin. He credits a 1990s exhibition at London’s Serpentine Galleries as a pivotal moment when his interest in art deepened. His collection reflects a strong emphasis on color and visual impact, with several works aligning with the bohemian and vibrant aesthetic that influenced his fashion brand.

Among the highlights to be auctioned are two Warhol works with fashion motifs: “Diamond Dust Shoes” (1980), estimated at £1.8 million to £2.5 million, and “Untitled (Legs and High Heels)” (1955), estimated between £80,000 and £120,000. Also featured are Riley’s geometric optical paintings from 1969 and 1979, estimated at up to £5.5 million each, and Milhazes’s colorful piece “O Mar” (1996), which resonates with Monsoon’s hippy style. Bacon’s early “Study for a Figure” (circa 1945) and “Figure in Movement” (1978) are expected to attract strong interest, with estimates ranging from £4 million to £18 million.

Simon’s art collecting journey intertwines with his business career. He took Monsoon public in the late 1990s but reacquired full ownership in 2007, noting that the public listing provided capital that helped kickstart his collecting. His tastes expanded internationally as his business grew, including acquiring works by Cuban artist Tania Bruguera after a 2000s trip to Havana.

While the auction will sell off much of Simon’s collection, he plans to retain certain pieces, including limited-edition lithographs by Hodgkin that hold personal significance. He has also recently acquired new works, including a third piece by American artist Lynda Benglis, indicating his ongoing involvement in art collecting. Simon intends to use proceeds from the sale to explore new and emerging artists.

Simon describes his decision to sell as part of a “time of life” shift, wanting to “live with blank walls for a while” after filling his home and Monsoon’s London offices with artwork for years. Despite stepping back from day-to-day operations, he remains creatively engaged with Monsoon and emphasizes the importance of hands-on creativity in an increasingly digital world.

The auction marks a notable moment amid a broader trend of major art collections from the baby boomer generation coming onto the market. Other collectors, including billionaire Joe Lewis and his daughter Vivienne Lewis, as well as Anita and Poju Zabludowicz, have also recently tested the auction space, each citing different motivations for parting with significant works. Simon’s sale, however, reflects a personal and strategic approach to making space for future collecting and creative exploration.