Steve Wynn's Picasso Is Damaged by Paint Pole

The transcript discusses Steve Wynn's challenges in the art market, including a recent accident involving Picasso paintings that were damaged and withdrawn from auction. It highlights Wynn's past incidents with art damage and the potential legal implications. The discussion also touches on the competitive dynamics of the art market, with major auction houses like Sotheby's and Christie's vying for dominance during a key selling period.

Discuss the significance of the timing in the art market mentioned in the text.

What challenges does the auction business face according to the text?