Wednesday, 30 July 2014
Last updated 10 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…