Back during the pit of the crisis, everyone was paying close attention to nightly auctions at Christie’s (BID) to figure out whether the rich were still feeling confident enough to part with their cash.
Largely, they weren’t.
Now, they are, big time. Someone just spent $43.7 million on a Warhol painting. The question, though, is who?
NYT: But only the auction house knows for sure who took home the $43.7 million Warhol. Some dealers said it might have been Steven A. Cohen, the hedge fund manager who collects contemporary art like Damien Hirst’s famous shark, or Philip Niarchos, the contemporary-art collector who is a member of the Greek shipping family. Others said it was a Russian oligarch like Roman Abramovich, who is said to have bought the $86.3 million Bacon triptych. Or maybe even Victor Pinchuk, the Ukrainian billionaire and contemporary art collector. And if it was Mr. Pinchuk, will “200 One Dollar Bills” be on view at his art foundation in Kiev?
If it was Cohen, it’s a good indication that he hasn’t gone into bunker mode following the controversies surrounding insider trading in the hedge fund world, including, possibly, SAC Capital. A Russian or a Ukrainian billionaire, though, sounds like a great guess.