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Steve Wynn pokes a hole in a Picasso

J

JS80

Lifer
"Oh shvt, look what I've done"
link to the painting
Damn, Picasso can't draw worth shvt.
Pablo Picasso's "dream" painting has turned into a $139 million nightmare for Steve Wynn.

In an accident witnessed by a group that included Barbara Walters and screenwriters Nora Ephron and Nicholas Pileggi, Wynn accidentally poked a hole in Picasso's 74-year-old painting, "Le Reve," French for "The Dream."

A day earlier, Wynn had finalized a record $139 million deal for the painting of Picasso's mistress, Wynn told The New Yorker magazine

The accident occurred as a gesturing Wynn, who suffers from retinitis pigmentosa, an eye disease that affects peripheral vision, struck the painting with his right elbow, leaving a hole the size of a silver dollar in the left forearm of Marie-Theresa Walter, Picasso's 21-year-old mistress.

"Oh ******, look what I've done," Wynn said, according to Ephron, who gave her account in a blog published on Monday.

Wynn paid $48.4 million for the Picasso in 1997 and had agreed to sell it to art collector Steven Cohen. The $139 million would have been $4 million higher than the previous high for a work of art, according to The New Yorker.

Cosmetics magnate Ronald Lauder paid $135 million in July for Gustav Klimt's 1907 portrait "Adele Bloch-Bauer I."

Wynn plans to restore "Le Reve" and keep it.
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Originally posted by: ScottSwingleComputers
So he just screwed himself out of $90 million profit.
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Not to mention the original $49 mil.

Why you wouldn't have something that valuable (and that irreplaceable) behind plexiglass is beyond me. Obviously if you have $50 million to blow on an ugly painting the money doesn't matter THAT much to you but the fact that you could never, ever replace it if you were to say... POKE YOUR ELBOW THROUGH IT should be motivation to protect it.

Viper GTS
 
last time i went to the wynn i saw this painting in his art exhibit there. if i go back and revisit it again i hope in the handheld speaker when he narrates the story of the painting that he includes that he messed it up. he probably wont mention it but i think itd still be funny over the classical music "and oh yes, in 2006 i also tore a hole into this work and lost out on $90 million."
 
Originally posted by: mpitts
Any person who has their last name on a casino on the Vegas strip doesn't need $139 million. 😀
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No, but they sure do value their egos, and I would have to think this shot a nice hole in his 😉 .
 
Kids put their 2 dollar baseball cards in hard plastic covers but collectors with paintings that are worth 150 million can't be bothered to do anything similar?
 
So what is the painting worth now? It still is the same painting, but with a hole in it.

20 million?

If he has it restored, would it be worth what he paid for it?

 
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