Saudi crown prince bought $450 mn Da Vinci

Share

Prince Bader bin Abdullah bin Mohammed bin Farhan al-Saud, believed to be in his early thirties, was described as a little-known prince from a distant branch of the family when he was revealed as the buyer of Leonardo da Vinci's Salvator Mundi for $450 million (£334 million). The buyer, it turns out, was the magnificently named Bader bin Abdullah bin Mohammed bin Farhan al-Saud-one of Saudi Arabia's 5,000 princes, who has no previous history as a major art collector, appears to be rarely photographed, and maintains an air of secrecy when it comes to his apparently massive wealth.

Normally, news of a wealthy and powerful member of Saudi Arabia's royal family buying a piece of art would not raise any interest.

Following the crown prince's quick rise to power, he promoted Prince Bader within the kingdom.

But Bader has apparently been left alone, and some speculate it's because he's a close friend of Prince Mohammed. But the timing on this purchase was notable.

Crown Prince Mohammed reportedly used another Saudi prince as a proxy for the purchase.

As for Prince Bader, when he's not palling around with Prince Mohammed, he also works on side projects like partnerships with those ranging from Verizon to Michael Bloomberg, as well as large program he founded to manage the country's recycling. At that time he put down a $100 million deposit to qualify for bidding.

The painting will be displayed at the recently opened Louvre Abu Dhabi, the museum tweeted on Thursday, without giving a timeframe.

Health officials: Flu shot may only be 10% effective this season
For the elderly or others who are especially vulnerable, a doctor may prescribe an antiviral medication to help lesson symptoms. According to the Centers for Disease Control and Prevention , several strains of influenza virus are in circulation.

On Wednesday, the museum announced on Twitter in Arabic, English and French that the art work was heading to the Louvre in Abu Dhabi.

The Journal says the painting was offered to the royal family in Qatar - Saudi Arabia's regional rival - in 2011 for a mere $80 million.

He is paying for the iconic painting in six installments, with at least five of them priced at more than $58million, the Times reported.

The island will also feature the Zayed National Museum, which had signed a loan deal with the British Museum - although the arrangement has come increasingly into question due to construction delays.

Da Vinci died in 1519 and there are fewer than 20 of his paintings in existence.

The work was auctioned by Russian billionaire Dmitry Rybolovlev, who bought it in 2013 for US$127.5 million in a private sale that became the subject of a continuing lawsuit.

Share