The famous hedge fund manager turned art collector, Adam Sender is currently auctioning his collection of fine pieces of art that he has been collecting since the 90s when he departed from SAC Capital Advisors LP to start his hedge fund. Mr. Sender’s collection comprises of different artworks from various artists including upcoming artists like Diana Al-Hadid and Urs Fischer, to the famous artists such as Cindy Sherman, Keith Haring, and Barbara Kruger. The Sender’s pieces will be viewed for the first time in the United States. The event was organized by Sender Collection Curator, Sarah Aibel. The Sender’s collection has also featured some great women artist like Barbara Kruger, Wangechi Mutu, and others. Mr. Sender shares his collection with the rest of the world through a website that one can use if he /she want to lend a particular piece of work. He says that he had no idea that the collection would be so vast that even the museums would lend some of his collections for shows and exhibitions. Mr. Sender, who closed his hedge fund, is now planning to secure a good place for himself in the art world. Mr. Sender anticipates that he will acquire $70 million from the ongoing exhibition where 139 artworks from different artists will be available for viewing.
Several people buy artwork just to decorate their homes. Most art collectors loan their pieces to museums and even donate them upon their deaths. On the other hand art, investors widen their portfolio through art investments; some invest up to three percent of their money on art. Through pieces of advice they get, they are able to buy popular historical paintings and keep them for decades before selling them when the market is favorable at profits between 6-10 percent. Art investments are common with wealthy families who may pass them on as an inheritance to their kin. Art speculators often buy art from upcoming artists at lower prices and wait for 10-15 years before selling them when the market is best. These collectors are often updated with the ongoing trends in the art world.
Great art collectors have the ability to research on what type of artworks will be easy to understand in terms of its origin. Serious art collectors like Phillips and Chrysler know how to organize their art in realistic groups and present them in a fashionable manner that is appealing to art buyers. They have been successful in collecting art and selling them at premium prices because of their quality. Well, documented pieces of work have a higher value at the market compared to those that are not properly documented. Before buying a piece of art always, make it a point to know the history of the art you are buying and the previous owners of that particular art.