Thursday, October 19, 2006

The Value of Stupidity

This will just knock your socks off.

You should really read it but I'll give you a quick rundown:

Private collector buys amazing Picasso Le Rêve in 1997 for $48.4 million.

Steve Wynn, super rich owner of various Las Vegas casinos and art collector, acquires amazing Picasso in 2001.

Earlier this year, Steve Wynn agrees to sell amazing Picasso to Steven Cohen, super rich hedge-fund mogul and art collector, for a record $139 million ($4 million more than the Klimt Lauder just bought).

A few weeks ago Steve Wynn is showing off his amazing Picasso to guests and, while gesticulating, puts his elbow through the canvas of the amazing Picasso, once valued at $139 million.

My favorite quote: Steve Wynn - “My feeling was, It’s a picture, it’s my picture, we’ll fix it. Nobody got sick or died. It’s a picture. It took Picasso five hours to paint it.”

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