Friday, 3 July 2015
Last updated 15 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…