Picasso’s Famous Painting ‘Le Reve’ Bought by Wall Street Billionaire For $155m

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In 2006, Wynn was to sell the painting to Cohen for $139m. However, Wynn who suffered from retinitis pigmentosa is said to have put his elbow through the painting accidentally and the purchase was subsequently cancelled. However, Cohen remained interested in the piece and waited for its restoration. Cohen, who founded SAC capital, has previously collected several other famous paintings including works by Manet and Van Gogh.

Valuation specialist Beverly Schreiber Jacoby says that the restoration must have been factored into the current price and that anyone who did not know that the piece had been damaged would never have guessed it because of its superb restoration. Art collectors say that is the most ever paid by a collector in the U.S for a piece of artwork.

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