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

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...