Band hedge funder, beleaguered apartment seller and bigwig art collector Steven Cohen is letting go of one of his prized paintings. The owner of the world’s most expensive sculpture is now selling a work by Jean-Michel Basquiat at Christie’s in May, sources tell Bloomberg.
Titled “La Hara,” the 1981 work depicts a white police officer on a six-foot-tall wood panel, and it’s expected to preform quite nicely — despite the rocky state of the auction market.
The piece is estimated at $22 million to $28 million, Christie’s told Bloomberg.
“It’s one of the few works of white men by Basquiat,” Alex Rotter, Christie’s chairman of postwar and contemporary art in the Americas, told Bloomberg. “It also has a political aspect.”
The auction house has guaranteed an undisclosed minimum price regardless of the outcome of the sale. It last sold in 1989 at at Sotheby’s for $341,000 and it later sold privately to Cohen. [Bloomberg]