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Pablo picasso paintings

Pablo Picasso Paintings Sell for Over $130 million at Auction


Nearly a dozen Pablo Picasso paintings have been auctioned off in Las Vegas and the collection fetched over USD$100 million (AU$130 million). Casino and hotel group, MGM Resorts, which boast a collection of 900 works from 200 artists, worked with The Sotherby’s to offload 11 Picasso pieces to diversify its expansive collection.

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Taking place at the Bellagio hotel last Saturday, the “first-of-its-kind” marquee coincided with the iconic artists 140th birthday celebration. The 1938 painting “Femme au beret rouge-orange”, translated to “Woman in a reddish-orange hat”, from Marie-Therese Walter, Picasso’s lover and muse, was sold for USD$40.5 million and claimed the highest winning bid of the night. Smashing expectations, the estimated price for the painting was estimated to sell between USD$20 and $30 million.

The large scale portraits “Homme et Enfant” and “Buste d’homme” sold for USD$24.4 million and USD$9.5 million respectively. The smaller works on ceramic, like “Le Dejeuner sur l’herbe”, which was inspired by Edouard Manet’s painting by the same name sold for USD$2.1 million, over four times its estimate. A sculpted white pitcher named “Aiguière – Visage” was originally valued somewhere between USD$60,000 and USD$80,000, but ended up going for a whopping USD$315,000. Turns out this Pablo Picasso guy was pretty good…The buyers’ names were not disclosed.

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