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Wynn pokes hole in a Picasso

October 18, 2006|From the Associated Press

Casino mogul Steve Wynn will keep and restore a Pablo Picasso painting that he accidentally damaged shortly after he had agreed to sell it for a record $139 million, an aide said Tuesday.

Wynn was showing the painting called "Le Reve," French for "The Dream," to guests in his office earlier this month at Wynn Las Vegas when he struck the painting with his right elbow, spokeswoman Denise Randazzo said.

The mishap left a silver-dollar-sized hole in the 74-year-old painting, which Wynn bought for $48.4 million in 1997.

He had agreed sell it to art collector Steven Cohen for $139 million, which would have been $4 million more than the $135 million that cosmetics magnate Ronald Lauder paid in July for Gustav Klimt's 1907 portrait, "Adele Bloch-Bauer I."

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