How to Buy Art Like a Billionaire
When you have billions sat in the bank and paying the bills isn’t a worry, using your funds to begin collecting is a necessity – and that’s what so many billionaires like to do! The average (as if there were such a thing) billionaire holds $31 million of their wealth in art. What could be a better investment than something you can hang on the walls of your fabulous penthouse/mansion/castle/palace?!
French luxury goods magnate Francois Pinault has so much art that he bought a whole Venetian palazzo just to display it! Apparently one of his favourite pieces is Maurizio Cattelan’s “Untitled 2007”. “Untitled” is, I think, understandable: I for one have no idea what I’d call this…
Home-building tycoon Eli Broad has a whole billion shored up in art! Apparently one of his favourite pieces is Jeff Koons’ “Rabbit”. One suspects that Eli might not be the most ruthless of billionaires!
Ronald Lauder, heir to the cosmetics empire Estee Lauder, reportedly paid $135 million for Gustav Klimt’s “Portrait of Adele Block-Bauer”, at the time the largest sum paid for a single painting. Of course, it was painted with real gold, so it was a total bargain!
Private equity specialist Leon Black’s art collection is reportedly worth $750 million – including the record setting sculpture Bird in Space, which cost him a cool $7 million. If he invites you to his pad for dinner, be sure not to knock it over.
Hedge funder Steve Cohen has unusual taste in home décor… if one judges by his ownership of Damien Hirst’s “The Physical Impossibility of Death in the Mind of Someone Living”. Otherwise known as “That Big Shark in a Tank” (at least to me), it’s definition as ‘art’ is one of the most debated. Let’s hope he doesn’t display it in his bedroom.
The next item was (unfortunately) purchased anonymously – but it’s price alone makes it worthy of entry. Artemis & the Stag, a 2000-year-old sculpture, was predicted to fetch $7 million – but ultimately sold for $28.6 million. The buyer might be unknown, but one fails to believe that he (or she!) is anything less than a billionaire!
About A Deal for the Di Sione Ring:
“Marry me, sell me the ring and I will fly you out of here tonight.”
Hotel magnate Nate Brunswick’s faith in marriage was destroyed by his father. But in searching for the ring that his beloved grandfather has asked him to retrieve, the illegitimate Di Sione who hates weddings finds himself inconveniently engaged!
The alluring owner of the ring, Mina Mastrantino, can only pass it on once she’s married. Quick vows and an even quicker annulment should be easy…but the exquisite impromptu wedding night gives them both far more than they planned!