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| The First Art Newspaper on the Net |
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Established in 1996 |
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Tuesday, September 9, 2025 |
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| Steve Wynn Sues Lloyd's of London |
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Pablo Picasso, "Le Reve" (The Dream).
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NEW YORK.- Steve Wynn sued Thursday Lloyd's of London for failing to pay off a $54 million claim for the depreciated value of a Picasso painting he mistakenly damaged. The suit seeks an order for Lloyd's to provide him a copy of its appraisal report. Wynn damaged Picasso’s "Le Reve" (The Dream) with his elbow, leaving a hole the size of a grapefruit.
Wynn had just finalized a $139 million sale of the painting -- for which he paid $48.4 million in 1998 -- to another collector, but decided to release the buyer from the sale agreement and to repair and keep the painting for himself.
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