Saturday, 28 February 2015
Last updated 1 day 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…