Thursday, October 31, 2013

steven a. cohen and art libor

richter's a.b. courbet is for sale

for those of you interested in the ups and downs of artlibor (@miami bourbaki we keep up with current banking and financial terminology).

billionaire steven a. cohen is selling art assets. hooray!!

up or down? let's see.

a richter, cohen paid $20M in a fit of egomania (more than it was worth it)
a matthew barney, (chances are cohen will break even). will it be the another cremaster? a photoshopped photo?
some warhols, ▲ (warhol is always market friendly: about $40 M)
cy twombly, (▲or ▼ depending whether the year is odd or even)
brice marden's "the unattended" has investors' hopes up ($7-10 M? hard to tell)
a nice looking joan mitchell ($5-7 M)
and so on...

why selling now? we have an ebullient market! also, cohen is in deep shit.

shit comes in three colors: financial, legal & criminal. as we speak, cohen's colors are fluctuating.

until the next,

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