Adam Sender Poised to Make $70 Million Dollars Selling His Art Collection
The story of Adam Sender is unlike any you may have heard in the financial world because a successful hedge fund manager went off on a wild ride in the Contemporary art world. Sender was managing his hedge fund over a decade ago and making a ton of people serious money. While the majority of clients were putting their profits back into the funds, Adam went out looking for another way to grow his net worth that was unconventional to say the least. His journey however was not as easy as he might have initially expected.
Adam Sender began his search in the art world looking at Contemporary masterpieces. It was here that he quickly realized he might be in a little over his head. To purchase a masterpiece by a Warhol, he would have to pony up over a million dollars. The room for profit was very small and if the market took a significant down-turn, he could lose all those profits he had worked so hard earning in the hedge fund. Sender decided to continue his search, but now focusing his efforts on some Contemporary artists that were flying slightly under the radar.
This proved to be the move that changed everything for Sender. Now he was able to locate some exceptional pieces of art that only cost him $100,000 to $200,000 per painting. This means that Sender now had the wiggle room to explode profits, especially if the art market took a huge upturn. He was banking on the fact that these lesser-known artists would eventually get recognition, and he would be in a great position to hit it big. He tested his theories by putting some of his growing collection up for auction back in 2006. Those 40 pieces sold for an impressive $20 million dollars, and Sender knew he was definitely on to something.
Over the years he continued to buy up those pieces of art, growing his collection to an astonishing 400 pieces. He closed out his hedge fund and completed amassing that large collection of 139 different artists. Then having felt like he had collected as much as he was able to, Sender called Sotheby’s and asked them to liquidate all his art pieces. The auction house estimated the sale would take approximately 18 months to sell off. This included advertising, marketing, and the auctions themselves. When the auctions were completed, Sender will have collected an amazing $70 million dollars. Adam Sender has collected many exotic pieces of art.
The moral of this story is that if you have a vision for the future, continue moving towards that goal and make small systematic changes along the way when needed. That one change Sender made was the deciding factor in him becoming a very wealthy man. Check out Adam Sender’s FB profile.