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How Much For That Elbow Through The Painting?

Next to Marilyn Monroe's legs, Steve Wynn's elbow must be the most expensive celebrity extremity.

Just a few weeks ago, Mr. Wynn apparently put his elbow through Le Reve, a 1932 painting of Picasso's mistress, Marie Therese Walter.  Back in 1997, Wynn purchased the painting for just over $48 million.  Now, however, he claims that moments before he put his elbow through it, it was worth $139 million, but only $89 million afterward.

The painting's insurers, Lloyd's of London, have offered $91,000 to fix the painting, with a $21,000 consultation fee thrown in for good measure.  Not satisfied with the speed of Lloyd's claims handling process - and certainly the amount of their offer, Wynn sued his insurers asking the Court to make them resolve the claim.  It's certainly understandable.  Our law firm has worked for Lloyd's before, and it can sometimes take them almost a year to pay one of our invoices for fees and costs.  Bitter?  No.  We just won't work for them anymore.

Meanwhile, Steve's soliciting bids on insuring his elbow.

Printer friendly page Permalink Email to a friend Posted by J. Craig Williams on Tuesday, January 16, 2007 at 01:18 Comments Closed (0) |
 
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