The late Theodore J. Forstmann was a colorful financier known for the prodigious collection of companies he bought and sold, from Gulfstream Aerospace to General Instrument to IMG.The press release runs to five pages, lots of pictures.
Like many a billionaire Wall Street investor, Mr. Forstmann also had a prominent collection of art, from Picassos to Miros to Lichtensteins.
On Tuesday, the auction house Sotheby’s announced – in this elaborate press release – that it was selling this spring about 50 works of art owned by Mr. Forstmann’s estate with an estimated value of $75 million.
Sotheby’s, via Associated Press
Sotheby’s trumpeted a number of pieces in its release, including Pablo Picasso’s portrait of Dora Maar titled “Femme assise dans un fauteuil” and the Belaursan artist Chaim Soutine’s “Le chausser de chez Maxim’s.
“Teddy Forstmann strove for excellence in business and in life, which carried through effortlessly into his art collecting,” said Stephane Connery, a Sotheby’s executive, in a statement. “He constantly re-evaluated and refined his collection, keeping it fresh, fluid and ever-evolving.”...MORE
I'd have figured Mr. Forstmann had better stuff.