The absence of any confirmed exhibition plans or venue readiness continues to anchor trader sentiment heavily toward “No” for a public showing of the Salvator Mundi by year-end. Owned since 2017 by a proxy for Saudi Crown Prince Mohammed bin Salman, the Leonardo-attributed panel has remained in secure storage—most recently reported in a Geneva freeport—following the indefinite postponement of its planned Louvre Abu Dhabi debut. Recent reports indicate it is slated as the anchor work for a yet-to-be-completed major museum in Riyadh, with construction timelines extending well beyond 2026 and no interim loans, loans, or pop-up displays announced. Historical precedent of extended private custody for such high-value works, combined with the absence of precursor announcements or institutional commitments in the past year, sustains the market’s 82% implied probability for no exhibition.