sac capital

Manet Self Portrait Headed for Auction

Manet's Self Portrait with a Palette is owned by hedge fund manager Stephen Cohen of SAC Capital. This June, during a Sotheby's auction, Cohen will add to his already vast fortune when he puts his Manet on the block. Pre-sale estimates value the painting at £20-£30 ($30M - $45M U.S.), but that is described as conservative. What shouldn't be described as conservative is art collectors' hunger for important works this year, with top-dollar records already broken twice. There are only two self-portraits of Manet in existence, and this is the only one in private hands. It is being assumed that another, very wealthy, private hand will keep it that way come June.

Source

Tags: art market, edouard manet, manet, sac capital, sothebys, stephen cohen