Cynical timing or simply luck? Hedge fund billionaire Steve Cohen is putting his Andy Warhol portrait of the late Elizabeth Taylor on the block, according to a Wall Street Journal report today.
Cohen stands to make between $20 million and $30 million when ‘Liz #5′ goes up for auction at Phillips de Pury’s May 12 contemporary sale, say art insiders.
Cohen — the 35th richest person in America — is a prolific collector who owns works by artists as diverse as Willem de Kooning and Damien Hirst. He recently bought Jasper Johns’ famous 1958 “Flag” painting for a reported $110 million.