Picasso painting worth $70 mn damaged before auction

Picasso painting worth $70 mn damaged before auction

New York: Picasso’s ‘Le Marin’ (The Sailor) 1943,valued at 70 million dollars, was “accidently damaged” at the presale exhibition of Christie’s auction of Impressionists and Modern Art.Christie’s has not divulged the details of the damage to the painting. The painting was supposed to be auctioned on May 15, The New York Times reported.

“After consultation with the consignor today, the painting has been withdrawn from Christie’s May 15 sale to allow the restoration process to begin,” the auction house said, in a statement, adding, “We have taken immediate measures to remedy the matter in partnership with our client. No further information is available at this time.”

This is the second time that a Picasso painting, owned by casino mogul Steve Wynn, has been damaged, according to the several media reports. Earlier in 2006, Wynn who suffers from retinitis pigmentosa, a degenerative eye disease, damaged Picasso’s ‘Le Reve’ by accidently putting his elbow through the canvas. The painting was later restored and sold at 155 million dollars to Steve Cohen in 2013.

Along with ‘Le Marin’, Picasso’s ‘Femme au chat assise dans un fauteuil’ (Woman With a Cat Seated in an Armchair) 1964, estimated at 22 million dollars to 28 million dollars, has also been removed from the auction. (ANI)