It is a common wonder how men worth $1 billion can own superyachts worth several hundred million. Joe Lewis, a man worth $7 billion, has that $250 million yacht and an art collection worthy of kings and easily worth over $1 billion. It is, in fact, the risk-taker’s timely acquisitions that have earned him a 3,500% return on his investments.
Four masterpieces of the “School of London” movement hit the auction block, putting to rest rumor mills that were abuzz for years about the art collection of a British billionaire who grew up in poverty in the East End. It is, in fact, the very first time, at the Sotheby’s sale in London, that Lewis and his family openly sold works from The Lewis Collection. It included breathtaking works: two by Lucian Freud, one by Francis Bacon, and one by Leon Kossoff, owned by the Tottenham Hotspur tycoon.
According to Bloomberg, the 89-year-old businessman purchased Francis Bacon’s Self-Portrait over 30 years ago, in 1994, for nearly $490,000 and sold it for over $18 million, a 3,500% gain that rewards a discerning eye and patience. As for the remaining three artworks, Freud’s A Young Painter and Blonde Girl on a Bed and Kossoff’s Children’s Swimming Pool, 11 o’clock Saturday Morning, August amassed another $21 million.
For decades, these canvases were part of the private gallery on Aviva, seen mostly by family and guests, and this Sotheby’s sale is the first time pieces from his yacht-bound collection have truly entered the public market.
Instead of art galleries, Lewis, who practically lives on his yacht Aviva in the Bahamas, has been storing the expensive artworks on the superyacht for decades. The currency trader, who started out as a caterer once upon a time, learned the importance of collecting art early on. His extensive collection also includes works by Picasso, Matisse, Freud, and Bacon.
As for the 321-foot Aviva superyacht, it is a literal floating art gallery, boasting Francis Bacon’s Triptych 1974–1977, framed in gold on the lower deck of Aviva, reportedly purchased earlier for $35 million, with current valuations around $70–75 million. Katja Zigerlig, Vice President of Art, Wine, and Collectibles at Berkley One, told Bloomberg, “People often put art on yachts, but usually not their most valuable pieces. From a conservation standpoint, it’s not ideal,” akin to “taking a newborn on a safari trip to Africa.” Lewis’s choice of decoration for his superyacht also happens to be Bacon’s last triptych.
The Abeking and Rasmussen vessel is believed to be built around his passions, mainly a padel tennis court, but it features enough walls for plenty of art, a Chanel-inspired wardrobe so fashion does not feel left out, a swimming pool, and a spa. According to The Times, the art aficionado has passed on the genes to his children and Vivienne, in particular, has been a driving force in the family’s art collection. She was “extremely actively involved in the art scene,” which means the Lewis collection is still growing, and Aviva motor yacht will have plenty of artworks to look forward to.
