Ms. Sonnabend was known for championing post-World War II artists like Jasper Johns and Robert Raushenberg.

WSJ: Liz Taylor Portrait to Go on Block for $20 Million

Mr. Cohen bought the work for an undisclosed sum from the estate of major New York dealer Illeana Sonnabend, who died in 2007.

WSJ: Liz Taylor Portrait to Go on Block for $20 Million

If so, it has an interesting correlation on the formerly discussed issue in the Sonnabend Estate over whether control absent the ability to sell the work has value.

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