Published: Mon, May 14, 2018
Life&Culture | By Sue Mclaughlin

A Picasso Painting Owned by Steve Wynn Was Damaged-Again

A Picasso Painting Owned by Steve Wynn Was Damaged-Again

A Picasso self-portrait estimated to be worth $70 million and due to go under the hammer in NY on Tuesday, has been "accidentally damaged" and withdrawn from auction, Christie's said.

It has not been specified how the pricey 1943 painting, "Le Marin (The Sailor)", was damaged, but it was reportedly an accident that occurred during final preparations on Friday.

"After consultation with the consignor today, the painting has been withdrawn from Christie's May 15 sale to allow the restoration process to begin", it added.

For "Le Marin", Christie's had assured the seller of a minimum price and found a third-party guarantor to bid for the piece at auction.

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Christie's said action was taken immediately to "remedy" the situation.

Last Tuesday, Christie's sold Pablo Picasso's 1905 "Fillette a la corbeille fleurie" ("Young Girl With a Flower Basket") for $115 million, making it the Spanish master's second most expensive work ever sold at auction. "No further information is available at this time".

Bloomberg reports that Christie's removed another Picasso painting from the auction owned by Wynn, which was a 1964 portrait of a woman with a cat valued at about $25 to $35 million. In 2006, Wynn accidentally poked his elbow through Pablo Picasso's 1932 painting "Le Rêve", while showing it to a few of his guests. The circumstances of the incident were not disclosed, however, reported the Agency Bloomberg notes that 76-year-old billionaire suffers from an eye disease, in which damaged peripheral vision, and he can't calculate the exact distance to objects.

Steve Wynn does not have good luck with Picassos. It's worth is estimated at $70 million, according to Fortune magazine.

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