ibusinesslines.com
ibusinesslines.com July 20, 2018


Is The Saudi Crown Prince Mystery Buyer Of $450M Da Vinci Painting?

08 December 2017, 03:52 | Myron Mathis

Is The Saudi Crown Prince Mystery Buyer Of $450M Da Vinci Painting?

Is The Saudi Crown Prince Mystery Buyer Of $450M Da Vinci Painting?

Prince Bader, in a statement published Thursday in a Saudi newspaper owned by a company he leads, said he had "read with great surprise the report published about me in The New York Times newspaper and the odd and inaccurate information it contained".

But the Journal, citing "US government intelligence and a Middle East art-world figure familiar with the purchase", said Bader acted as a proxy for the heir to the Saudi throne.

Saudi Arabia's crown prince is the true buyer of the Leonardo Da Vinci painting that sold last month for a record $450 million, the Wall Street Journal reported.

The Journal reported that Bader was the nominal buyer, but said MBS was identified in USA intelligence reports as the true owner.

The revelation that Prince Bader is the purchaser, according to documents reviewed by The New York Times, links one of the most captivating mysteries of the art world with palace intrigues in Saudi Arabia that are shaking the region. The sale price more than doubled the previous record for an art sale at auction, $179.4 million for a Picasso. His statement did not mention the painting or address whether he had bought it.


Prince Mohammed comes from a more moderate side of Islam although much of the Sunni country practices a strict Wahhabi form of Islam.

Prince Bader, the named buyer, has no publicly known source of wealth that would enable him to make such an expensive purchase. He belongs to a remote branch of a royal family and he has never been known to be an art collector. The mass purge was in fact ordered by Crown Prince Mohammed bin Salman, who organized a series of midnight arrests that included 11 of his royal cousins-who happens to be one of Prince Bader's friends and associates.

Understand the world with sharp insight and commentary on the major news stories of the week.

He was the chairman (appointed by Prince Mohammed) of Saudi Research and Marketing Group, the publisher of Arab newspaper Al Share Al Awsat and other publications.

But Prince Mohammed, whom the Times describes as King Salman's favored son and key adviser, has himself been criticized for his spending habits, including impulsively spending half a billion dollars on a yacht past year while at the same time slashing capital spending by 71 percent. But on Wednesday, Louvre Abu Dhabi (which opened in November) announced the upcoming arrival of the painting on twitter. Over 600 objects and paintings have been loaned to the museum. The winning bidder? Prince Bader bin Abdullah bin Mohammed bin Farhan al-Saud.



Other News

Trending Now

IDF strikes Gaza targets after rockets launched at Israel
Rallies, demonstrations and protests dominated the West Bank, East Jerusalem and the Gaza Strip against Trump's declaration. The Israeli rocket attacks reportedly landed in the Gaza Strip and on an empty field in southern Israel , injuring no one.

In Picture: First poster of Rohit Shetty's 'Simmba' with Ranveer Singh
Today, indeed, is a very good day for those in love with Bollywood masala movies and Ranveer Singh fans, of course. It is likely that the actor-director duo will set our scenes on fires with their energy and full-of-life personas.

More Details on Apple Pay Cash
If you have a MacBook with Touch ID, you can use Apple Pay Cash, or you can connect an older Mac to your iPhone and pay that way. The terms point out that Apple Pay Cash comprises two services: a virtual payment card and the funds transfer service.

Why Hugh Jackman turned down Bond role
In a new interview with Variety , the 49-year-old actor revealed he just couldn't get on board with the "crazy" scripts. However, the actor felt the franchise wasn't gritty enough at the time and chose to opt out of portraying James Bond .

Delta Flight Forced to Make Extra Stop For Bathroom Break
The flight diverted south to the Billings Logan International Airport and landed there just after 6 p.m., according to Flightaware.com .

Facebook targets pre-teens with chat app
So, parents can get full access on Facebook, while their children can befriend them on Messenger Kids and even play together. Once the parent has authenticated it with their own account , they set up a mini-profile with their kid's name and photo.

New Director Named For Queen/Freddie Mercury Biopic
As previously reported , Singer was sacked from the project after failing to show up on the set after Thanksgiving. Dexter Fletcher has been tapped to replace Bryan Singer as the director of Bohemian Rhapsody .