Casino mogul's auction should prove that art collecting isn't a gamble



2015-06-26 12:06:37

Casino mogul's auction should prove that art collecting isn't a gamble

Lichtenstein and Basquiat are for sale along with other highlights from Steve Wynn's collection

The casino giant Steve Wynn is best known for revitalising the Las Vegas strip as owner of some of the largest casinos in the city, including The Mirage, Treasure Island and, of course, Wynn.

But Wynn isn't only an owner of some of the world's most famous gambling venues, he's also dedicated some of his estimated $1.5bn-2bn into collecting the world's most famous artists.

Vincent van Gogh, Henri Matisse, Pablo Picasso and Andy Warhol are among the iconic names in his collection. And now other collectors and investors have a chance to get in on the action...

 Roy Lichtenstein's Ohhh... Alright... is estimated at $40m

Various important works from Wynn's collection are going under the hammer at Christie's International on November 10.

Experts are predicting success from the auction - andthink that its results will prove once and for all that the art markets are going from strength-to-strength and rising above the recession.

Among the sale's highlights will be Roy Lichtenstein's Ohhh... Alright..., a painting dated to 1964. The signed and dated work is estimated at $40m.

Billionaire Steve Wynn has Picasso in his collection - but you don't need to be a millionaire to own a Picasso, or reap the investment benefits.

Lichtenstein's painting depicts an attractive redhead, sighing sadly on the phone. Christie's expects the work to easily surpass the artist's current $16.3m auction record.

Wynn is also offering a 1982 Jean-Michel Basquiat self-portrait of himself beside his Pop Art mentor, Andy Warhol. The Basquiat is expected to bring $10m.

The works will appear as part of a two-week art auction in Manhattan, during which Sotheby's, Christie's and Phillips de Pury & Co will offer modern artworks worth an estimated total of $1.5bn.

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