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Text size [+][-]  Tuesday February 9 2010GLOBAL EDITION

Considered view
04 Nov 2008 18:31

Paint by numbers

Context News

Kohlberg Kravis Roberts & Co. co-founder Henry Kravis sold Edgar Degas’s “Danseuse au repos” for $37m at a Sotheby’s auction last night, a new record. He bought the piece in 1999 for a $28m, also a record at the time. Sotheby's promised Kravis a guaranteed amount regardless of the outcome of the sale. He was on the Sotheby’s board 1997 to 2003.


The KKR founder sold a Degas painting Monday for just over $37m. That’s more than the $28m he paid in 1999, for an IRR of about 3% a year. Of course that’s without the benefit of leverage. And you can’t put a buyout prospectus on the dining room wall.

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More stories by:  Lauren Silva Laughlin






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