Steve Wynn's Picasso Is Damaged by Paint Pole

The transcript discusses Steve Wynn's challenges in the art market, including a recent accident involving Picasso paintings that were damaged and withdrawn from auction. It highlights Wynn's past incidents with art damage and the potential legal implications. The discussion also touches on the competitive dynamics of the art market, with major auction houses like Sotheby's and Christie's vying for dominance during a key selling period.

What unfortunate event happened to Steve Wynn's Picasso paintings?

• They were sold for less than expected.

• They were stolen before the auction.

• A contractor damaged one with a paint pole.

• They were lost in transit.

What previous incident involved Steve Wynn and a painting?

• He painted over a masterpiece by mistake.

• He accidentally sold a fake painting.

• He lost a painting in a fire.

• He backed into his own painting and ripped it.

What is a key challenge in the art auction business?

• The rivalry between major auction houses.

• Finding new artists to represent.

• Competing with online art sales.

• Dealing with damaged artworks.

Which two major auction houses are mentioned as competitors?

• Heritage Auctions and Doyle

• Artcurial and Dorotheum

• Sotheby's and Christie's

• Bonhams and Phillips

What makes the current time significant for selling art?

• A decline in art prices.

• The Rockefeller sale boosting the market.

• New technology in art sales.

• A decrease in art thefts.