Wednesday, 23 July 2014
Last updated 1 hour ago
Jul 2 2014 | 5:11am ET
Point72 Asset Management’s Steven Cohen continues to actively manage his famed art collection, selling a piece at Christie’s postwar and contemporary art auction yesterday.
Taking advantage of a frothy market for such works, Cohen sold a “word painting” by the American artist Christopher Wool, whose oeuvre has been fetching high prices recently. The canvas, which reads “HAAH” in black capital letters, went for $10.6 million, well over its low estimate of $9.2 million.
The New York Times reported that Cohen was the seller of the 1990 painting.
All told, the London auction brought in $169.9 million, above its low estimate of $135 million, with 12 of the 75 lots failing to sell.
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…