If you knew anything about Adam Sender, you would know that he is a very successful hedge fund manager who has made significant amount of money for his clients. Sender has always had an eye for money, but his unconventional way of hitting the jackpot is a lesson to us all. If you have ever been told that you can not succeed going against the grain, the story of what Adam Sender did will be an inspiration for all.
Going back over a decade, Adam Sender was still managing his hedge fund for his clients and reaping the rewards of a job well done. While everyone was enjoying their profits, Sender was contemplating ways to turn his profits into a substantial windfall. He ventured off into the wold of at, where her quickly discovered that masterpieces were being bought and sold for millions of dollars a piece. There was no way that he was going to be able to risk that kind of money and still turn a big profit when it came time to sell. This was the turning point in the story and ultimately a $70 million dollar decision.
Sender went back to the art world and began to search for pieces that were more reasonable, and he discovered if he were to focus on artists that were just on the cusp of getting to that top level, he could buy their best pieces of work for much less than the more famous artists. His hunch was dead on, as he began to uncover exceptional paintings that were well under the fair market value for the current market. He knew that if he could find enough of these pieces that there was plenty of room to make a hefty size profit. Sender did exactly that, growing his art collection over time until he reached another key point in his amazing story.
Having collected a number of paintings, Sender wanted to make certain he wasn’t going to lose his shirt when it cam time to sell. So he scheduled an art auction in 2006 to sell of 40 pieces of his growing collection. To his surprise, he banked $20 million dollars from that small sale, and this was the fuel he needed to be able to continue investing in the Contemporary art world. It took Sender a little over a decade to grow that collection, until this year when he decided it was time to put his collection of art away like he had with that hedge fund.
Sotheby’s got the call to sell off 400 pieces of artwork that Sender had, all comprised of 139 artists total. The auction is scheduled to run over 18 months, at which time Sender will make $70 million dollars from his incredible foresight. Check out this article by ArtNews on Adam Sender.