Business Steve Wynn is about to unload some expensive art By Carleton English April 9, 2018 | 1:15pm | Updated Steve Wynn Getty Images Steve Wynn is in a selling mood. The disgraced casino mogul — who last month unloaded his entire stake in Wynn Resorts amid a slew of sexual misconduct allegations — now appears to be liquidating some of his art collection, according to a Monday report. Modern art aficionados will have a chance to bid on at least two major pieces from Wynn’s collection at a Christie’s auction next month, Artnet reported, citing sources. The artworks — Andy Warhol’s “Double Elvis” and Pablo Picasso’s “Le Marin” — are expected to take in at least $100 million at the famed auction house. Artnet’s sources say more sales are expected to be announced in coming weeks. The motivation behind Wynn’s reported sale isn’t clear, as he just bagged $2.1 billion from the sale of his 11.8 percent stake in Wynn Resorts. Artnet sources speculated that some of Wynn’s art holdings may in some way be tied to the holdings of Wynn Resorts, possibly necessitating the need to sell art as well. At a current valuation of $30 million, Wynn would seemingly be taking a loss on the Warhol, which he bought at Sotheby’s in 2012 for $37 million, including fees, Artnet reported. However, the sale of the Picasso could be a big win for Wynn as it’s a self-portrait of the artist that last sold for $8.8 million in 1997. Both works are listed on Christie’s “Impressionist and Modern Art Evening Sale,” but the seller is not identified. https://nypost.com/2018/04/09/steve...w&utm_source=NYPTwitter&utm_medium=SocialFlow “As a matter of policy Christie’s does not identify buyers or sellers by name without permission,” a Christie’s spokesperson told The Post. The reported sales come months after Wynn resigned as chief executive at the company he founded, following accusations that he sexually harassed or assaulted several women. Wynn has denied the allegations. Reps for Wynn did not immediately respond to requests for comment.
Unload that crap. Fine art is like a yacht...they say the happiest moments are when you first acquire it, and when you sell it ,