Oops, Wynn Elbowed $40 Million Picasso Painting.

Oops of the day: Las Vegas bazillionaire Steve Wynn was showing "Le Rêve", a 1932 painting by Picasso, to his friends when he elbowed the $40 million artwork:

[Wynn] began to tell the story of the Picasso’s provenance. As he talked, he had his back to the picture. He was wearing jeans and a golf shirt. Wynn suffers from an eye disease, retinitis pigmentosa, which affects his peripheral vision and therefore, occasionally, his interaction with proximate objects, and, without realizing it, he backed up a step or two as he talked. “So then I made a gesture with my right hand,” Wynn said, “and my right elbow hit the picture. It punctured the picture.” There was a distinct ripping sound. Wynn turned around and saw, on Marie-Thérèse Walter’s left forearm, in the lower-right quadrant of the painting, “a slight puncture, a two-inch tear. We all just stopped. I said, ‘I can’t believe I just did that. Oh, shit. Oh, man.’ ”

Wynn turned around again. He put his pinkie in the hole and observed that a flap of canvas had been pushed back. He told his guests, “Well, I’m glad I did it and not you.” He said that he’d have to call Cohen and William Acquavella, his dealer in New York, to tell them that the deal was off. Then he resumed talking about his paintings, almost, but not quite, as though he hadn’t just delivered what one of the guests would later call, in an impromptu stab at actuarial math, a “forty-million-dollar elbow.”

http://www.newyorker.com/talk/content/articles/061023ta_talk_paumgarten

Update 10/17/06: Ooh, even worse: Wynn had sold it for $139 million and was forced to cancel the sale. Good thing he's already really rich.