Tuesday, March 26, 2013

Retail Therapy: Hedge Fund Mogul Treats Himself to a $155M art deal

Feeling sorry for Steven A. Cohen, whose SAC Capital just settled two insider-trading lawsuits with the government for $616 million?  Save it.  Cohen has bought himself a gift — Picasso’s “Le RĂªve” for $155 million, the NY Post has exclusively learned.

Billionaire Cohen secretly bought the masterpiece from Vegas mogul Steve Wynn, who famously put his elbow through the 1932 painting of Picasso’s mistress, creating a six-inch tear.  The price is estimated to be the highest ever paid for an artwork by a US collector — and it’s even more impressive because Wynn had previously agreed to sell the masterpiece to Cohen for $139 million in 2006, but accidentally tore the painting the following day….

Find out more at http://www.nypost.com/p/pagesix/sac_cohen_in_art_deal_ZJQ39Tc7T1ih0ss3eLozjJ

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