NAHMAD EMPIRE EXPANDS INTO CONTEMPORARY ART
by Rachel Corbett
Joseph Nahmad bought his first painting two years ago -- when he was 19 years old. “I saw this amazing Lucio Fontana
at Sotheby’s in London, and I called my father,” he said recently over chamomile tea at Café Carlyle. “But I couldn’t reach him, so I bought it on a whim.” It was one of the artist’s sliced Concetto Spaziale
canvases, hammered down at £1.8 million. “When I told my father about it, he was not very pleased.” He had sold the very same painting 40 years earlier for about $2,000.