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    Picasso’s La Reve. (Click on image to enlarge).

    Bloomberg reports that hedge fund manager Steve Cohen has bought Picasso’s La Reve for $155 million from casino owner Steve Wynn. This is the highest price paid by a US collector for an artwork. In 2011 the Qatar royal family paid more than $250 million for Cezanne’s The Card Players.

    Wynn previously agreed to sell La Reve to Cohen for $139 million in 2009. This sale was cancelled after Wynn, who is suffering from an eye disease, accidentally put his elbow through the canvas. The work has since been superbly restored. La Reve depicts Marie Therese Walter, who was Picasso’s mistress and the mother of their daughter Maya.

    Cohen, who started collecting in 2001, is one of the world’s biggest art collectors. His taste has since shifted from Impressionist to Contemporary art.

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