Comments on: Steve Wynn ruin a Picasso http://today.ccopinion.com/steve-wynn-ruin-a-picasso/ News Thats Important To You Fri, 26 Feb 2010 14:21:40 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: George http://today.ccopinion.com/steve-wynn-ruin-a-picasso/comment-page-1/#comment-8815 George Sat, 28 Oct 2006 18:25:46 +0000 http://today.ccopinion.com/steve-wynn-ruin-a-picasso/#comment-8815 I think you have something there. You might be right if the insurance company really paid the full price or if the term of the insurance allow the painting to be display without protection. This would be a great scam if this was allow. I think you have something there. You might be right if the insurance company really paid the full price or if the term of the insurance allow the painting to be display without protection. This would be a great scam if this was allow.

]]> By: Allan Ostergren http://today.ccopinion.com/steve-wynn-ruin-a-picasso/comment-page-1/#comment-8778 Allan Ostergren Fri, 27 Oct 2006 13:15:52 +0000 http://today.ccopinion.com/steve-wynn-ruin-a-picasso/#comment-8778 Imagine this scenario: Buys painting for $39 million; later sells it at auction for $139 million; insures painting for auction value prior to turning it over to buyer; pokes elbow through painting in front of a bevy of witnesses; cancels sale and has painting restored, obtaining a revised appraisal value; files insurance claim for auction price minus revised estimate; keeps painting; goes on long vacation. Any adjustors watching? Imagine this scenario:

Buys painting for $39 million; later sells it at auction for $139 million; insures painting for auction value prior to turning it over to buyer; pokes elbow through painting in front of a bevy of witnesses; cancels sale and has painting restored, obtaining a revised appraisal value; files insurance claim for auction price minus revised estimate; keeps painting; goes on long vacation.

Any adjustors watching?

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