{"id":78126,"date":"2018-05-20T09:00:31","date_gmt":"2018-05-20T16:00:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=78126"},"modified":"2018-05-18T15:22:31","modified_gmt":"2018-05-18T22:22:31","slug":"steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/","title":{"rendered":"Steve Wynn Draws on Fine Art Savoir-Faire with Self-Created Global Art Business"},"content":{"rendered":"

Steve Wynn — the man who once reinvented Las Vegas — has now reinvented himself: as an art dealer.<\/p>\n

\"Steve
Internet records show the Sierra Fine Art website was built the day before Steve Wynn sold his majority stake in Wynn Resorts for $2.1 billion. Wynn\u2019s new website showcases multimillion-dollar artworks up for sale, in what some experts say is an unusual sales tactic for such prestigious pieces.\u00a0 (Image: sierrafineartllc.com)<\/figcaption><\/figure>\n

According to artnet.com, fallen casino mogul Steve Wynn, 76, has launched a company called Sierra Fine Art LLC, which will hawk multimillion-dollar artworks, including Picassos, Matisses, and Warhols.<\/p>\n

\n

Its website, sierrafineartllc.com, was built on March 21, six weeks after Wynn resigned as chairman and CEO of Wynn Resorts in the wake of multiple allegations against him of sexual misconduct and assault, and the day before he sold his majority stake in the company<\/a> for $2.1 billion.<\/span><\/p>\n<\/div>\n

Wynn\u2019s longtime lawyer, Michael Kosnitzky — while reasserting Wynn\u2019s denial of all allegations against him — confirmed his client\u2019s career change, explaining that the former magnate wasn’t ready to just disappear into the woodwork.<\/p>\n

The attorney told artnet that his client had \u201cdecided to do something in a businesslike way that would keep him active. He plans to travel around the world to locate art of significance and use his vast experience and knowledge to sell it to others.”<\/p>\n

Unusual Marketing Strategy<\/h2>\n

Wynn is a longtime collector of fine art who has, in the past, exhibited pieces of his collection at his casinos, but can he cut it as a dealer?<\/p>\n

Artnet notes he has taken an unorthodox route by launching a website showcasing the works on sale.<\/p>\n

“While many dealers are loath to reveal their top inventory publicly for fear of \u2018burning\u2019 the work [art-market parlance for overexposing it and therefore damaging its prospects for sale], he has posted digital images of his pricey holdings directly on the company\u2019s new website,\u201d wrote artnet\u2019s Julia Halperin.<\/span><\/p><\/blockquote>\n

She also questions why a company which, in Kosnitzky‘<\/em>s words, will deal only with the \u201chighest end of the market\u201d and the \u201cmost sophisticated\u201d buyers, should feel the need to pimp its wares to the masses via a website.<\/p>\n

Let\u2019s just say, there\u2019s no \u201cadd to cart\u201d option.<\/p>\n

Damaged Goods<\/strong><\/h2>\n

Wynn\u2019s new venture got off to a bad start when the auction of one of his Picassos, scheduled for Tuesday, was pulled after a paint roller attached to an extension pole reportedly fell onto the canvas and punctured it as it awaited sale at Christie\u2019s high-end auction house.<\/p>\n

This was Picasso\u2019s 1943 self-portrait Le Marin<\/em>,<\/a> the most expensive of three paintings Wynn planned to auction at a $70 million valuation this week. While the painting was technically being sold by an “unnamed client,” news site Bloomberg identified Wynn as the Christie’s seller.<\/p>\n

Another Picasso, Femme au chat assise dans un fauteuil\u00a0(1964)<\/em>, was also pulled because it was covered by the same third-party insurance policy.<\/p>\n

Kosnitzky told artnet that Sierra and Christie\u2019s are currently arguing over the extent of the damage and the cost of the painting.<\/p>\n

Wynn — who is known to have extreme vision issues — famously put his own right elbow through Picasso\u2019s Le R\u00eave<\/em> in 2006, as he was showing it off to friends in his office and just before he was about to sell it for $139 million. At the time, it would have been the highest price ever paid for a painting.<\/strong><\/p>\n

The third painting from the Wynn collection — Andy Warhol\u2019s\u00a0Double Elvis\u00a0(1963) —<\/em>\u00a0was sold as scheduled on Thursday night, fetching $37 million. For a man with a reported $3 billion bankroll, the new business may be more about keeping him busy than building profits, but that’s not a bad start.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn — the man who once reinvented Las Vegas — has now reinvented himself: as an art dealer. According to artnet.com, fallen casino mogul Steve Wynn, 76, has launched a company called Sierra Fine Art LLC, which will hawk multimillion-dollar artworks, including Picassos, Matisses, and Warhols. Its website, sierrafineartllc.com, was built on March 21, […]<\/p>\n","protected":false},"author":36,"featured_media":78134,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,11],"tags":[],"acf":[],"yoast_head":"\nSteve Wynn Draws on Fine Art Savoir-Faire with Global Art Business<\/title>\n<meta name=\"description\" content=\"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steve Wynn Draws on Fine Art Savoir-Faire with Global Art Business\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-20T16:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-05-18T22:22:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1334\" \/>\n\t<meta property=\"og:image:height\" content=\"588\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/\",\"url\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/\",\"name\":\"Steve Wynn Draws on Fine Art Savoir-Faire with Global Art Business\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png\",\"datePublished\":\"2018-05-20T16:00:31+00:00\",\"dateModified\":\"2018-05-18T22:22:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png\",\"width\":1334,\"height\":588,\"caption\":\"Steve Wynn\u2019s new website showcasing the multimillion-dollar artworks up for sale. Internet records show the Sierra Fine Art website was built the day before he sold his majority stake in Wynn Resorts for $2.1 billion. (Image: sierrafineartllc.com)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Famous Players\",\"item\":\"https:\/\/www.casino.org\/news\/players\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Steve Wynn Draws on Fine Art Savoir-Faire with Self-Created Global Art Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\",\"name\":\"Philip Conneller\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png\",\"caption\":\"Philip Conneller\"},\"description\":\"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/philip-conneller\",\"https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk\",\"https:\/\/x.com\/casinoorgphilc\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steve Wynn Draws on Fine Art Savoir-Faire with Global Art Business","description":"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/","og_locale":"en_US","og_type":"article","og_title":"Steve Wynn Draws on Fine Art Savoir-Faire with Global Art Business","og_description":"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.","og_url":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2018-05-20T16:00:31+00:00","article_modified_time":"2018-05-18T22:22:31+00:00","og_image":[{"width":1334,"height":588,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png","type":"image\/png"}],"author":"Philip Conneller","twitter_card":"summary_large_image","twitter_creator":"@casinoorgphilc","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Philip Conneller","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/","url":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/","name":"Steve Wynn Draws on Fine Art Savoir-Faire with Global Art Business","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png","datePublished":"2018-05-20T16:00:31+00:00","dateModified":"2018-05-18T22:22:31+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b"},"description":"Steve Wynn has reinvented himself as an art dealer with a new company, Sierra Fine Art, but the website suggests he\u2019s adopted an unconventional strategy for his new business.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/wynnweb.png","width":1334,"height":588,"caption":"Steve Wynn\u2019s new website showcasing the multimillion-dollar artworks up for sale. Internet records show the Sierra Fine Art website was built the day before he sold his majority stake in Wynn Resorts for $2.1 billion. (Image: sierrafineartllc.com)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/steve-wynn-draws-on-fine-art-savoir-faire-with-global-art-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Famous Players","item":"https:\/\/www.casino.org\/news\/players\/"},{"@type":"ListItem","position":3,"name":"Steve Wynn Draws on Fine Art Savoir-Faire with Self-Created Global Art Business"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b","name":"Philip Conneller","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png","caption":"Philip Conneller"},"description":"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.","sameAs":["https:\/\/muckrack.com\/philip-conneller","https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk","https:\/\/x.com\/casinoorgphilc"],"url":"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/78126"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=78126"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/78126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/78134"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=78126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=78126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=78126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}