WORLD : Tycoon Still Hasn’t Plucked ‘Irises’

Australian tycoon Alan Bond has yet to take possession of Van Gogh’s “Irises,” the world’s most expensive painting, which he bought for $49 million two years ago, Sotheby’s said today.

British press reports said Sotheby’s had loaned Bond half the purchase price. A Sotheby’s spokeswoman confirmed that Bond took out a loan to help pay for the picture but declined to say how much.

The picture had gone on public display in Perth, Bond’s West Australian base, but is now in secret storage under Sotheby’s control.

Bond’s huge brewing and media empire has suffered a series of financial setbacks this year.