The portrait sold for $432,500 in an Auction First
At FinTrust, we were watching this closely. It is interesting the way the story behind an object can make it very valuable. Prior to auction, we saw estimates that the portrait would go for $10K or less. We predicted that it would either sell for a lot more, or become much more valuable in the coming years. As a result, Allen decided to place a bid in the $8K range – obviously he was out-bid by a little bit. We’ll keep an eye on you Edmond de Belamy and the ‘artist’ min G max D Ex[log(D(x))] + Ez[log(1-D(G(z)))].
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