Friday, 29 August 2014
Last updated 9 hours ago
Nov 15 2013 | 11:47am ET
Seven pieces from Steven Cohen's prized art collection were sold at auction this week, yielding a disappointing haul.
The works fetched at combined $77 million at the Sotheby's sale in New York, below their high pre-sale estimate of $85 million. A painting by the German artist Gerhard Richter did best, netting $26.5 million against a pre-sale estimate of $20 million. The two Andy Warhol canvasses sold by the SAC Capital Advisors founder did less well, with a large portrait of actress Elizabeth Taylor barely clearing its low estimate on the same night that another Warhol set a record for the artist at $105.4 million.
One of Cohen's lots also set an artist record: Brice Marden's "The Attended" collected $10.9 million.
All told, Four Cohen lots made the auction's top 10. Sotheby's had guaranteed Cohen a minimum price for six of the seven pieces, although it is unclear what those prices were.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...