Cover Karl Lagerfeld's Monaco estate is set to be up for auction later this year (Photo: Kristy Sparow/FilmMagic)

The late fashion designer's Monaco estate is expected to hit the auction block during the second half of 2021 after it has finished the valuation process

Sotheby's Monaco is expected to auction off late fashion designer, Karl Lagerfeld's Monaco estate later this year. The executor for the designer's estate missioned the auction house to value and sell items from Lagerfeld's residences two years after his passing.

The valuation process is set to take around two months with the sale slated to be held during the second half of 2021. Choosing Monaco for the sale is to "highlight the designer's strong connection to the principality and the sovereign family." The Monaco estate is just one of the late designer's many homes.

"The auction will pay tribute to this unique and exceptionally creative designer, a major figure in the worlds of fashion and art," says Pierre Mothes, vice president of Sotheby's France.

While not specifying which items are being sold, they mentioned that it will include furniture, design and fine art. Lagerfeld was one of the fashion industry's most celebrated designers, helmed Chanel since 1983 among other brands including his own label. He was also known as an avid collector of art and furniture from different time periods and styles as well as possessing a fondness for interior design. He sold off his collection of 18th-century French furniture and artworks at Christie's in 200 for US$28.5 million.

Stay tuned for more announcements regarding the sale at Sotheby's official website.

See also: Items From Kenzo Takada's Paris Apartment Up For Auction This May