Why This Fund Manager Paid $15 Million for a Painting Estimated at $200,000
Bill Perkins came to Christie’s and sparked an epic bidding war. He says it was worth it.
Ernie Barnes’s The Sugar Shack (1976).
Courtesy Christie's
The Houston-based hedge fund manager Bill Perkins walked into Christie’s on Thursday night, May 12, planning to spend $2 million. An hour or so later, he left having spent $15,275,000.
“The plans went awry, to put it mildly,” he says, speaking the next day. “I was shocked, but I knew it was a possibility.”