Adam Sender, a well-respected hedge fund manager and contemporary art collector, is changing the direction of his life. He said, “I’m closing this chapter of my life.” That is exactly what he is doing. He recently closed Exis Capital Management which he founded a number of years ago. He is also preparing to reorganize his vast art collection. He will sell some items, and put some on display. He will also keep some of the works. In the last 17 years he has accumulated an art collection of about 800 works. This includes various artists, 139 in total.
The larger part of his collection will be sold by Sotheby’s. This will not happen in a week or two, but will be sold over a 12 month period. The value of the pieces is estimated at $70 million to $80 million. One piece of art is called “Untitled #93.” It is estimated it will bring in two to three million dollars. Another painting, “Commissioned Painting: A Painting by Edgar Transue” is estimated to bring in the same amount.
Sender, 45, is envied by many art collectors due to his intellectual way of accumulating his art. He made his purchases by researching various artists who impressed him. These artists were climbing the ladder to the art kingdom. Obviously he made some fantastic choices.This helped him to accumulate one of the best collections of contemporary artists. Some people have said that anyone might put together a similar collection (providing they had the money), but, the truth is Sender made very smart choices over and over.
One of Sender’s first purchases was in the latter 1990’s. The work was by Cindy Sherman entitled, “Black Sheets.” He paid approximately $100,000 for the piece. Today the value is many times that amount.He went on to collect more of her works and he now has one of the best Sherman collections you can find.
Undoubtedly Sender will accumulate a small fortune from his art collection. However, one wonders what his next endeavor will be.