New-York based Christie's auction house said on Friday Abu Dhabi's Department of Culture and Tourism was acquiring Leonardo da Vinci's portrait of Christ, Salvator Mundi, a painting that sold for $450.3 million.
Bader bin Abdullah bin Mohammed bin Farhan al-Saud was widely reported to have bought the $450m picture at Christie's New York last month after The New York Times published an article citing documents from inside Saudi Arabia that the newspaper had reviewed.
The firm's website describes him as "one of Saudi Arabia's youngest" entrepreneurs, present in sectors including real estate, telecommunications and recycling. 1500, sold for $450.3 million at Christie's last month.
The declaration came the day after the Wall Street Journal reported that the person who had purchased the Renaissance painting at Christie's NY last month for a staggering $450m was the Crown Prince of Saudi Arabia, Mohammed bin Salman bin Abdulaziz Al Saud.More news: Trump to record robocall for Roy Moore
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"Da Vinci's Salvator Mundi is coming to #LouvreAbuDhabi", the museum said on Twitter in Arabic, English and French. Da Vinci's "La Belle Ferronnière" is on loan there from the Louvre in Paris.
Salvator Mundi, which depicts Jesus holding a crystal orb in his left hand and raising his right in blessing, is one of some 16 known surviving works painted by da Vinci.
The 500-year-old painting of Christ is believed to be the work of Leonardo da Vinci.
"We're not supposed to tax the Saudi guy if he takes the painting outside the U.S.", Kleinman said.
In 2013, a consortium of dealers including Simon, Parish and Warren Adelson sold Salvator Mundi for US$80 million to a company owned by a Swiss businessman and art dealer Yves Bouvier, Bloomberg reported.
Its latest sale was initiated by Russian tycoon Dmitry Rybolovlev, the boss of football club AS Monaco.