A Picasso Painting Owned by Steve Wynn Was Damaged-Again

Steve Wynn in a 2016

Before the incident, the painting was auctioned at Christie's for $ 70 million.

"Pablo Picasso's Le Marin. was accidentally damaged Friday during the final stages of preparation for Christie's May 12-15 exhibition", a statement from the auction house issued on Monday said.

American billionaire Steve Wynn, the gambling Mogul that owns several casinos in Las Vegas, and again for the same reason, withdrew from the auction of the work of Pablo Picasso as he did in 2006.

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Christie's said, "The painting has been withdrawn from the sale to allow the restoration process to begin".

Malaga-born Pablo Picasso's Le Marin (The Sailor), painted in 1943, will not now be going under the hammer in NY today. "We have taken immediate measures to remedy the matter in partnership with our client".

Bloomberg reports Wynn has since made a decision to pull another Picasso painting, 1964's "Femme au chat assise dans un fauteuil" (woman with a cat), from the auction.

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According to Christie's auction house catalogue, "As it would have been clearly understood at that time - the flowers were a come-on, she was actually a prostitute".

The painting was one of 3 owned by Wynn that was at Christie's to be sold.

Last week at Christie's, an art collection from David Rockefeller consisting of work from Picasso, Claude Monet and Georgia O'Keeffe saw $646 million on the first night of sales. The painting was restored and eventually sold for $US155 million. The painting had been worth $139 million before that, according to a lawsuit Wynn filed against the insurer, Lloyd's of London. Wynn suffers from a disease that affects his peripheral vision and the hit reportedly caused a six-inch tear.

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Wynn, 76, stepped down this year as chief executive of Wynn Resorts after allegations of sexual harassment, which he has denied.

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