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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note