Eleven works by Picasso auctioned for more than 94 million euros in Las Vegas


An attendee photographs a painting before the auction of 11 paintings and works by Picasso at the Bellagio Hotel in Las Vegas.
Reuters

Eleven works by the malagueño Pablo Picasso have been auctioned for almost $ 110 million (more than 94 million euros). The works have been exhibited for more than two decades in a hotel in Las Vegas.

Specifically, they were in the Picasso Restaurant of the Bellagio Hotel in Las Vegas and were owned by MGM Resorts. The company has announced the auction to give greater diversity to its collection of art.

The lot included nine paintings and two ceramic pieces dating from different periods of the artist, including the work ‘Woman with an orange beret’, which has been the most expensive after being sold for 40.5 million dollars (almost 35 million euros). The painting, dated 1938, depicts Picasso’s lover and muse Marie-Thérèse Walter and its previously estimated price was between $ 20 million and $ 30 million.

The ‘Man and Boy’ portrait has been sold for $ 24.4 million. “This 1959, nearly six-foot-tall work is an impressive example of Picasso’s accomplishments at this important phase in his career,” reported auction houses Sotheby’s.

Sotheby’s staff members take bids over the phone as 11 paintings and works by Picasso go up for auction at the Bellagio Hotel in Las Vegas. Reuters


It has also been sold ‘Still life with fruit bowl and flowers’, painted during the Nazi occupation of Paris in 1942. It has fetched a price of 16.6 million dollars. “Despite the destruction and hardships of World War II, the years between 1940 and 1944 were one of the richest for Picasso’s work,” Sotheby’s has highlighted.

The auctioned collection started more than 20 years ago by casino owner Steve Wynn, former owner of the Hotel Bellagio. Now the hotel wants to buy more works by women, minority artists and emerging countries.

The sales record for a Picasso painting is $ 179.4 million (€ 154 million), which was paid for ‘The Woman from Algiers’ in 2015.

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