Wynn's Picasso Le Reve to Be In Exhibition

Many of you probably recall the Picasso painting Le Reve which was owned by Las Vegas casino owner Stephen Wynn. Wynn had a contract to sell the Picasso for $139 million and then when showing the painting to friends in 2006 he accidentally put his elbow through the canvas. New York City appraiser Victor Wiener was involved in the insurance claim and consulted on the settlement., Wiener wrote a very interesting and insightful article on the settlement process for the damaged Picasso in the Journal of Advanced Appraisal Studies 2008 entitled Appraising Art in the Stratosphere (click HERE to order).

Lindsay Pollock of Bloomberg news reports Le Reve will be on display at the Acquavella Galleries in NYC along with 11 other Picasso paintings, sculptures and a few drawings. The exhibition opens to the public on October 15th. The value of the Picasso exhibition items totals over $500 million. Regarding the repair, Pollock states "The tear was repaired and the erotic painting of Picasso's dozing lover, with her left breast exposed, usually hangs in Wynn's Las Vegas office.``To the naked eye, you can't really see anything,'' Acquavella said.

To read the Bloomberg news article click HERE.