Billionaire Steven Cohen Selling Jean Dubuffet’s Paris Polka Valued at $25 Million

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Jean Dubuffet (French,   Le Havre 1901–1985 Paris) Apartment Houses in Paris

Billionaire money manager Steven A. Cohen is selling the 1961 Jean Dubuffet painting “Paris Polka” valued at $25 million, Bloomberg reported.

Christie’s will auction the Dubuffet at a special evening headlined “Looking Forward to the Past, ” on May 11.

The record for a Dubuffet painting at an auction is $7.4 million, set last November.

This May in New York, Christie’s is also offering Pablo Picasso’s “Les Femmes d’Alger (Version ‘‘O’’)” for $140 million.

an annual report published in March by the European Fine Art Foundation noted that global sales of art and antiques hit a record $56 billion in 2014, up 7 percent from 2013, especially modern, postwar and contemporary artists.

After settling insider-trading charges against his hedge-fund firm SAC Capital Advisors in 2013, Cohen founded a family office called Point72 Asset Management, based in Stamford, Connecticut. With $11 billion, Cohen ranks 112th on the Bloomberg Billionaires Index.

An active art trader, in November Cohen sold a 1958 Franz Kline painting, “King Oliver” for $26.4 million at Christie’s, and bought Alberto Giacometti’s $101 million painted sculpture “Chariot” at Sotheby’s.

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