SAC CEO Cohen's Art Collection Tallies $77M Plus

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Nov. 14 (Bloomberg) -- Bloomberg's Katya Kazakina reports on the auctions for some of SAC Capital CEO Steve Cohen's art collection. She speaks on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Numbered news.

Let's start with steve cohen because as his firm was facing these charges as -- of insider trading, he was out buying art.

But it seems last night he let a few pieces go full stop which ones?

He had a group of seven paintings at 70s. together they sold for $77 million and they are the -- and the most expensive was by richter.

It sold for $26 million.

It is a gorgeous competition.

Interestingly, he bought it in 2012. in miami.

No, the real one.

And he made some money.

And then there was a warhol.

A couple of beautiful warhol's that we see now.

It comes from the collection of a legendary art dealer.

That one sold for $20 million.

There was also the car crashed that sold for $7.3 million.

Contemporary art is back, at least at these prices.

You know all about the art world.

Is there more buzz about contemporary artists more now than ever?

It is on fire.

It seems to be what collectors and billionaires from all over the world want to compete for.

At christie's a night earlier, it was $691 million, just one sale.

$142 million just to get there.

And that is a record for any peace and an auction.

Exactly.

We have a new auction record.

And when you talk about more and more records being broken, there were years -- i will not say it was a lull.

The art community has always been actor -- active, but that time to now has been a shorter time frame versus the previous record.

Yes, and there was in the past 11 months they sold for $20 million.

That has never happened.

We had two works that sold for $11 million.

That has never happen in one single round of auction.

There are bits coming from brazil, and asia and russia and there is such international bidding.

Do you have any insight into who is actually buying?

In other words, if it professions, or is it old money, new money?

I think there is a lot of new money.

There are also american collectors buying as well.

It is people who are building collections, museums that are being built all over the world, new economies, you know, that are flush with money and they want that particular trophy.

And obviously, the more recognizable name can bring in anything.

Thank you so much.

She covers fine arts for us here

This text has been automatically generated. It may not be 100% accurate.

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