Steven A. Cohen's art sales raise $88 million

Nov 14, 2013, 6:11 PM EST
REUTERS/Steve Marcus/Files

Sales of art works owned by hedge fund billionaire and art collector Steven A. Cohen raised some $88 million in this week's contemporary art auctions at Sotheby's and Christie's in New York. The sale of the largest single group of works Cohen has sold at one time drew particular interest as it coincided with $1.8 billion in fines on his firm, SAC Capital Advisors, on insider trading charges. It is unclear how much Cohen realized from the sales as Sotheby’s, where the majority of his works went under the hammer, had given him a pre-sale guarantee.