A Hole in Picasso.

A Hmmism

What do you say when you poke a hole in your Picasso?

“Oh shit! “

Apparently this is what Steve Wynn, Las Vegas casino owner and art collector, said as he smashed his elbow into the well known Picasso piece “ Le Reve” which left a small hole in the middle of the painting as reported by Reuters.

My first thought was “ Damn, a hole in such a beautiful painting. How could that happen?”

Wynn is said to have been showing this painting to a small group of friends when the accident occurred. But here’s the catch. He had just finalized the sale of “Le Reve” for 139 million dollars. That’s a helluva lot of money! Anyhow, Reuters reports that Wynn released the buyer from the sales contract and will repair the 1932 Picasso piece.

There’s a boom and I mean a big boom in the art market. Art is once again popular and those with the big bucks buy the big names. This in turn drives up the prices: simple economics of supply and demand.

Here’s the question. Is the art truly worth such prices?