Ryoei Saito facts for kids

Ryoei Saito (齊藤 了英, Saitō Ryōei, April 17, 1916 – March 30, 1996) was a very important businessman from Japan. He was the honorary chairman of a large company called Daishowa Paper Manufacturing, which made paper. However, he became most famous around the world for his amazing collection of expensive art.

A Passion for Art

Ryoei Saito had a great love for art, especially famous paintings. He made headlines globally because of his art purchases. In May 1990, he bought two of the most famous and valuable paintings ever at auctions in New York City.

Record-Breaking Purchases

At these special auctions, Saito bought two incredible paintings. One was Van Gogh's Portrait of Dr. Gachet. He paid $82.5 million for it. The other was a smaller version of Renoir's Bal du moulin de la Galette, which cost him $78.1 million.

At that time, these two paintings were the most expensive artworks ever sold. This included both public auctions and private sales. Their prices were so high that they held the record for many years. It took 25 years for a painting sold at a public auction to break Saito's record. This happened in May 2015, when Picasso's Les Femmes d'Alger was sold.

The Mystery of the Paintings

Ryoei Saito passed away in 1996, about six years after buying these famous paintings. A few years later, the Metropolitan Museum of Art in New York wanted to borrow the Van Gogh painting for an exhibition. However, they could not find it.

There was a concern that the paintings might have been destroyed. This was because Saito had once mentioned that it might be better to do so to avoid high taxes for his family after his death.

But don't worry, the paintings were not destroyed! In 2007, it became publicly known that the Van Gogh painting had been sold. It was bought by an investment manager named Wolfgang Flöttl in 1997 or 1998. The Renoir painting also found a new owner and was not destroyed.