Monday, July 27, 2009

Simply the best - art collectors

Few of us have billions, or even millions to invest in our art collections. Most of us are lucky to have some works by local artists and maybe a few extraordinary pieces. However, there is a rare breed out there who chooses to not just invest their bags of money in houses, luxury yachts, and cars - but in really great art.

I came across a really great slideshow from Forbes that lists the world's top billionaire art collectors, including Eli Broad, Francois Pinault, and members of the Lauder family.

click here to see the slideshow and see one example below:

Steven Cohen

Art collection: $750 million

Hedge fund titan has been a prolific buyer of art, said to have spent upward of $500 million in recent years. He paid David Geffen a record $137 million for a de Kooning, a month after having paid him $63.5 million for another de Kooning. He agreed to pay $139 million for a Picasso, but the sale fell apart after seller Stephen Wynn put his elbow through the painting. Also owns Damien's Hirst's 13-foot shark (pictured); encased in formaldehyde, it reportedly rotted and was replaced. His SAC Capital bought a stake in Sotheby's auction house earlier this year.