From Art to Casino Resorts: Elaine Wynn’s $89 Million Collection Hits the Auction Block

The Elaine Wynn auction showcases her $89 million art collection, reflecting her legacy in the gaming and arts sectors. As a legendary force in the gaming world, Elaine Wynn redefined the standards of luxury within the industry, most notably as the co-founder of the empire that transformed the landscape of modern casino resorts.

• Elaine Wynn was a noted collector of fine art.
• Her art collection is being auctioned by Christie’s.
• She passed away in April at the age of 82.

---

A portion of Elaine Wynn’s esteemed art collection will soon be available at Christie’s in New York this November. If the six pieces fetch their top estimated prices, the total could reach an impressive $89 million.

“Elaine: The Collection of Elaine Wynn” will be a part of Christie’s 20th and 21st Century Art auctions. Often referred to as “Ms. Las Vegas,” Elaine was an influential figure in the arts and hospitality sectors. She passed away earlier this year, and the exact cause of death remains unspecified.

Known as a patron of the arts, Wynn made significant contributions, enhancing accessibility to art at places like the Los Angeles County Museum of Art (LACMA) and the Las Vegas Art Museum. Her collection comprises notable works by celebrated artists such as:

• Richard Diebenkorn
• Lucian Freud
• Joan Mitchell
• J.M.W. Turner

Piece by Piece Examination

Among the treasures from Wynn’s collection, Christie’s has pinpointed a Diebenkorn piece titled “Ocean Park,” which could thus fetch between $15 million and $25 million. Another sought-after artwork, Freud’s “The Painter Surprised by a Naked Admirer,” holds a similar price range.

For collectors on a budget, Thiebaud’s “River Stretch” is an inviting option, with a projected price tag of $3 million to $5 million.

Although it remains unofficial, proceeds from this auction are expected to contribute to Wynn’s estate, which has been valued at an astonishing $2 billion. The estate’s executors include her daughters, Gillian and Kevyn, her nephew, Andrew Pascal, and businessman Bobby Kotick.

Wynn’s Stock Holdings

At the time of her passing, Wynn possessed approximately 8% of Wynn Resorts’ shares, rendering her the second-largest non-institutional investor in the company, following Tilman Fertitta. Speculation surrounding her stock holdings ignited after her death, yet her estate has not made any formal comments regarding it. Interestingly, the stock has surged by 41% over the last 90 days.

Elaine Wynn’s passion for art was a lifelong commitment. In 2013, she set a record by purchasing a Freud triptych for $142.4 million at Christie’s.

“Wynn’s collecting journey began in the 1980s and was a shared joy with her daughters, marked by an affinity for artworks spanning the centuries from the 19th to the 21st,” Christie’s reflected in their statement.

With such a rich history and an impressive collection on the auction block, this event promises to be not just a testament to Wynn’s legacy but also a fascinating opportunity for collectors and art enthusiasts worldwide.

Summary: Elaine Wynn, famously dubbed “Ms. Las Vegas,” has left behind a legacy intertwined with her art collection that will be auctioned at Christie’s. Her collection consists of six significant pieces with a potential value of up to $89 million, featuring renowned artists like Diebenkorn and Freud. The auction represents not just a financial venture, but a continuation of her passion for art that resonates through generations.