Steve Cohen Picked the Perfect Time to Auction His Warhol of Elizabeth Taylor

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Photo: Anthony Behar/Getty Images

You don't become a cutthroat billionaire hedge funder by not noticing when an aging American icon has been hospital-ridden for months and deciding to put your very rare Andy Warhol portrait, Liz #5, on the auction block for Phillips de Pury's spring evening sale. (It's up for $20 million minimum, in case you're interested.) [WSJ] Related: Jerry Saltz on Andy Warhol's Portraits of Liz [Vulture]