PICASSO MASTERPIECES FETCH NEARLY $109MLN AT SOTHEBY’S LAS VEGAS AUCTION

Sun 24 October 2021:

According to the auction house Sotheby’s website, 11 paintings by Pablo Picasso were sold for $108.8 million in Las Vegas, just days before the Spanish painter’s 140th birthday.

The first-of-its-kind auction included Picasso’s works from the MGM Resorts Fine Art Collection that had been on display for years in Bellagio Hotel’s Michelin-starred Picasso restaurant in Las Vegas.

The large-scale portraits “Homme et Enfant” and “Buste d’homme” sold for $24.4 million and $9.5 million respectively, while smaller works on ceramic, like “Le Dejeuner sur l’herbe” which sold for $2.1 million, went for three or four times their pre-sale estimate.

After a beginning price of $20-30 million, “Woman with a red-orange cap,” one of his last portraits of his beloved muse Marie-Therese Walter, got the top price of $40.5 million.

Photo: Pablo Picasso’s 1938 painting of Marie Therese is seen at the Bellagio Gallery of Fine Art Tuesday, Oct. 19, 2021 in Las Vegas.

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