Displaying items by tag: elaine wynn

Billionaire art patron and philanthropist Elaine Wynn, famous for her record-breaking purchase of a $142 million Francis Bacon triptych at Christie's, has expensive tastes. After all, she can afford it—Forbes estimated her current net worth as $1.52 billion.

In a recent interview with the New York Times, Ms. Wynn discusses her first reaction to seeing the Bacon work as "gobsmacked," and decided to bid well above the $85 million estimate.

Elaine Wynn and Antony Ressler have been elected as the new board co-chairs of the Los Angeles County Museum of Art, officials announced Thursday. They succeed Andrew Brandon-Gordon and Terry Semel, who will remain on the museum board with the title co-chairs emeriti.

Wynn joined LACMA's board of trustees in 2011 and is an active art collector. She was the reported buyer in 2013 of the $142.4 million Francis Bacon triptych painting of Lucian Freud — then a record sum for a painting sold at auction. 

This past November, Francis Bacon’s triptych portrait Three Studies of Lucian Freud (1969) sold for $142.4 million at Christie’s, setting an artist’s record and becoming the most expensive work ever sold at auction. Less than a month later, the massive contemporary masterpiece turned up on loan, not at a modern-day art mecca like New York’s Museum of Modern Art (as Edvard Munch’s The Scream did), but on the opposite end of the US, at the Portland Art Museum in Oregon. The painting, which remained on view there through early April, was loaned by its new owner Elaine Wynn, ex-wife of casino mogul and top collector Steve Wynn. Mrs. Wynn, a resident of Nevada, was reportedly entitled to save more than $10 million in taxes by first parking the painting at the Portland Art Museum before bringing it to her home state.