Now Entering Russ's World
It was not uncommon for Adam Sender to put six figures down on a piece of art work. He did this on a regular basis when he was a hedge fund manager. Spending $100,000 may be a lot to me, but Sender spent this on a regular basis. He would even drop an astounding $422,500 on a hand written lyrics from Bob Dylan, but this is just another day for an art collector like Adam Sender. All of his endeavors have not totally yielded the results that he hoped for, but unloading over $70 million in artwork is very impressive nevertheless.
I have seen some of the art pieces that he has collected, and I can’t say that I could have ever imagined that these pieces were worth as much as they earned when he sold the pieces. It was his upscale art shows that would provide a glimpse of much of the artwork that would grow in value over time. I know that Sender had a good job (an extreme understatement) prior to becoming a full time art collector. This wasn’t the thing that would make him happy though. It would prove vital to him to move on beyond his financial expertise – at least as a hedge fund manager – and bring his financial savvy to another area of life. I have wondered why he would totally give up any type of financial expertise, but the reality is that he is still using his financial skills. The difference was that he is using this financial knowledge to invest in artwork that appreciates in value over time. This is a lot more risky than any type of stock or Wall Street opportunity. He learned this with the hand written Bob Dylan lyrics that he purchased. Still, there have been many areas where Adam Sender has managed to thrive and get returns far beyond the 6 figures that he may have paid for certain pieces of artwork.
The thing that I have admired the most about Adam Sender is that he took on his passion and invested heavily in this. He isn’t a man that said that he loved art and refused to spend any money on artwork. To the contrary, Sender put his money where his mouth was. He believed in collecting a massive amount of artwork. Hundreds of pieces were sold and he was still able to retain hundreds of other pieces. This is how massive the collection has gotten over the years. He is not just an art collector; Sender is an authority. He knows art, and he knows it well. That may be the main reason that he has thrived with a new career.