Malaysian financier Low Taek Jho, known for big spending, sold three artworks for about $54 million in early February, according to people familiar with the matter. The pieces, the sources say, were part of the collateral for a $100 million loan from Sotheby's Financial Services. Two went for much less than the prices Low paid. It's unknown whether he made or lost money on the third, a Monet.
The buyers don’t like to see things come back so quickly. They don’t find the works so attractive the second time around.” �David Nash, co-owner, Mitchell-Innes & Nash gallery
A Basquiat Low bought for $12m in 2013 sold for £6.2m, or $8.9m
A Picasso he paid
$39.9m for in 2013 sold for £18.9m, or $27.6m