Cohen To Sell Rare Manet Self-Portrait

May 11 2010 | 4:34pm ET

SAC Capital Advisors’ Steven Cohen now boasts one of the largest and most impressive private art collections in the world. One of the very first paintings in that collection is also one of its rarest—and now it’s headed for the auction block.

Cohen plans to sell an Édouard Manet self-portrait—one of only two painted by the impressionist master—this summer. The canvas is expected to get between $30.1 million and $45.2 million at Sotheby’s on June 22.

“It was one of Steve’s first purchases,” the hedge fund billionaire’s art adviser, Sandy Heller, said. “Now it’s time for the painting to live another life.”

Cohen paid $18.7 million for the painting, which dates to 1878 and shows the artist holding a palette and paintbrushes, in 1997.

Cohen has focused in recent years on 20th and 21st century art.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...