was the honorary chairman of

Daishowa Paper Manufacturing is a Japanese paper manufacturing company. The company's stock is listed on the Tokyo and Nagoya Stock Exchange and on the Osaka Securities Exchange. The stock is also constituent of the Nikkei 225 stock index. As of April 2013 the company ha ...

in Japan. He was noted for his purchase of expensive art. Specifically, at consecutive auctions by

Christie's Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, at Rockefeller Center in New York City and at Alexandra House in Hong Kong. It is ...

and

Sotheby's Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and ...

in New York in mid May 1990, Saito bought

Van Gogh Vincent Willem van Gogh (; 30 March 185329 July 1890) was a Dutch Post-Impressionist painter who posthumously became one of the most famous and influential figures in Western art history. In a decade, he created about 2,100 artworks, inclu ...

's ''

Portrait of Dr. Gachet ''Portrait of Dr. Gachet'' is one of the most revered paintings by the Dutch artist Vincent van Gogh. It depicts Dr. Paul Gachet, a homeopathic doctor and artist with whom van Gogh resided following a spell in an asylum at Saint-Rémy-de-Proven ...

'' and a second, smaller version of

Renoir Pierre-Auguste Renoir (; 25 February 1841 – 3 December 1919) was a French artist who was a leading painter in the development of the Impressionist style. As a celebrator of beauty and especially feminine sensuality, it has been said that "Re ...

's ''

Bal du moulin de la Galette ''Bal du moulin de la Galette'' (commonly known as ''Dance at Le moulin de la Galette'') is an 1876 painting by French artist Pierre-Auguste Renoir. It is housed at the Musée d'Orsay in Paris and is one of Impressionism's most celebrated masterpi ...

'' for $82.5 and $78.1 million, respectively. At the time, these were the two most expensive paintings sold, either at auction or through private sales. Taking inflation in account, they remained the two most expensive paintings until the private sale of

Klimt Gustav Klimt (July 14, 1862 – February 6, 1918) was an Austrian symbolist painter and one of the most prominent members of the Vienna Secession movement. Klimt is noted for his paintings, murals, sketches, and other objets d'art. Klimt's prim ...

's ''

Portrait of Adele Bloch-Bauer I ''Portrait of Adele Bloch-Bauer I'' (also called ''The Lady in Gold'' or ''The Woman in Gold'') is a painting by Gustav Klimt, completed between 1903 and 1907. The portrait was commissioned by the sitter's husband, , a Jewish banker and sugar ...

'' in June 2006. It took 25 years before Saito's public auction price was broken, through the sale of

Picasso Pablo Ruiz Picasso (25 October 1881 – 8 April 1973) was a Spanish painter, sculptor, printmaker, ceramicist and Scenic design, theatre designer who spent most of his adult life in France. One of the most influential artists of the 20th ce ...

's ''

Les Femmes d'Alger ''Les Femmes d'Alger'' (English: ''Women of Algiers'') is a series of 15 paintings and numerous drawings by the Spanish artist Pablo Picasso. The series, created in 1954–1955, was inspired by Eugène Delacroix's 1834 painting ''Women of Algiers ...

'' ("Version O") at Christie's, New York, in May 2015. Saito died of a stroke six years after his acquisitions. Three years later, the

Metropolitan Museum of Art The Metropolitan Museum of Art of New York City, colloquially "the Met", is the largest art museum in the Americas. Its permanent collection contains over two million works, divided among 17 curatorial departments. The main building at 1000 ...

in New York, after failing to locate the Van Gogh for an exhibition, expressed concern that both paintings may have been cremated with the owner, since Saito had mentioned in the early 1990s, after having to pay $24m in taxes for them, that it would be better to do so, in order to avoid colossal death duties for his children. Only in 2007 did it became publicly known that the painting had been sold in 1997 or 1998 to the Austrian-born investment fund manager

Wolfgang Flöttl Wolfgang Flöttl (born 1955 in Vienna) is an Austrian investment banker. After receiving a J.D. from Vienna University in 1978, he studied for an MBA from Harvard Business School in 1981 as well as from the London School of Economics. He joine ...

.Lee Rosenbaum
"Dr. Gachet" Sighting: It WAS Flöttl!
ArtsJournal, January 26, 2007

References

1916 births 1996 deaths Japanese art collectors 20th-century Japanese businesspeople Papermakers Japanese racehorse owners and breeders Nippon Paper Industries {{Japan-bio-stub