Contemporary art collector and founder of Exis Capital Management, Inc., Adam Sender, announced he will be selling off nearly 400 works of art after closing the doors to his hedge fund last month. Sender started Exis in 1998 and once managed over $1 billion however, last year that figure was down to just $75 million and the fund lost 5.1%.
Sotheby’s will be selling the works over the next 18 months and estimates the total value to be in excess of $70 million.
