Art Squeeze

Bloomberg Businessweek (Europe) - - MARKETS / FINANCE - −Katya Kaza­k­ina

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

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