Casino-owner Steve Wynn Selling $150 Million Picasso, Warhol Works After Sexual Misconduct Claims

picasso_elvisb
Pablo Picasso, Le Marin, 28 October 1943, oil on canvas and Andy Warhol, Double Elvis [Ferus Type], 1963
(© 2018 Estate of Pablo Picasso / Artists Rights Society (ARS), New York and Christie’s Images Ltd )

09 April 2018 | Mark Beech | BlouinArt

“Casino mogul Steve Wynn is selling some $150 million of art, including works by Pablo Picasso and Andy Warhol.

People with knowledge of the provenance of the works confirmed the sales to Blouin Artinfo. A spokeswoman for Christie’s told Blouin Artinfo: “As a matter of policy Christie’s does not identify buyers or sellers by name without permission.” Out of hours, no spokesman could immediately be reached for a comment from Wynn.

One of the works is a Picasso self-portrait which will be included in Christie’s May 15 Impressionist and Modern Art Sale in New York. It is estimated at making as much as $70 million at hammer prices.

“Le Marin,” an oil-on-canvas work executed on October 28, 1943, has long been seen as among Picasso’s most celebrated self-images, with the artist wearing one of his famous striped fisherman’s jerseys.

Steve Wynn settled with second woman over sex allegations

Steve Wynn

The work was formerly in the collection of Victor and Sally Ganz and later bought by Wynn. It changed hands in 1997 for less than $10 million.

Wynn, 76, stepped down this year as chief executive of Wynn Resorts after allegations of sexual harassment, which he has denied. The billionaire also quit as finance chairman of the Republican National Committee. He has since sold his stake in Wynn Resorts.

Another work is Warhol’s “Double Elvis (Ferus Type)”, from 1963, a work that shows the artist’s obsession with celebrity of all kinds. The silkscreen-on-paint image, estimated at $30 million this time, last appeared at auction in 2012 when it fetched $37 million at Sotheby’s, according to the Blouin Art Sales Index.

Wynn has already been selling art, according to a Bloomberg report. He is reported to have sold Warhol’s “Superman” from 1981 at Art Basel Hong Kong with an asking price of $19.5 million, Bloomberg said. The work sold for $14.4 million at Sotheby’s in 2015.

Wynn had put some of his works on show in Wynn properties and talked of his holdings so there was no doubt of their ownership.

 

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