On Friday, the 1943 Pablo Picasso painting Le Marin (The Sailor), valued at $US70 million ($93.1 million), was "accidentally damaged" at the presale exhibition of Christie's on Tuesday evening auction of Impressionist and Modern art.
Outside conservators have already been consulted to restore the piece.
The self-portrait, named Le Marin (The Sailor) was set to go to the highest bidder at NY auction house Christie's, along with another work by the artist-a 1964 portrait of a woman with a cat named Femme au chat assise dans un fauteuil.
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"Christie's has a very high standard of care for the objects entrusted to us and we have taken immediate measures to remedy the matter in partnership with our client".
Bloomberg reports Wynn has since made a decision to pull another Picasso painting, 1964's "Femme au chat assise dans un fauteuil" (woman with a cat), from the auction. The painting was one of three owned by Wynn scheduled to be auctioned by Christie's this week.
Last week at Christie's, an art collection from David Rockefeller consisting of work from Picasso, Claude Monet and Georgia O'Keeffe saw $646 million on the first night of sales. It comes a decade after Wynn accidentally put his elbow through another Picasso, "Le Reve", while showing it in his Las Vegas workplace. But even corrupted "the Dream" Picasso went under the hammer in 2013 for $ 155 million - bought the painting from Wynn American financier Stephen Cohen. The auction house is not saying how it was damaged.
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Wynn is said to suffer from a disease that affects his peripheral vision, according to the outlet.
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