Advertisement
Tuesday, Dec 07, 2021
Outlook.com
Outlook.com

Eleven Picasso Artworks Fetch Whopping $109 Million In US Auction

The auction was held in Las Vegas on the occasion of Pablo Picasso's 140th birthday.

Eleven Picasso Artworks Fetch Whopping  $109 Million In US Auction
Pablo Picasso's 'Femme au béret rouge-orange' on display | AP/PTI
Eleven Picasso Artworks Fetch Whopping $109 Million In US Auction
outlookindia.com
2021-10-25T08:19:06+05:30

Eleven Pablo Picasso artworks have been sold for a combined $109 million in a Las Vegas auction coinciding with the artist's 140th birthday.

The nine paintings and two ceramic pieces had been displayed inside the Picasso restaurant at the Bellagio Gallery of Fine Art for more than two decades until owner MGM Resorts decided earlier this year to sell them.

The Saturday event was organized by Sotheby's and marked the first time the famed auction house staged an evening marquee sale in North America outside its New York saleroom. It featured Picasso artworks from 1917 to 1969.

Auction officials said Picasso's 1938 portrait of his muse Marie-Thérèse Walter entitled “Femme au béret rouge-orange” (“Woman in a reddish-orange hat”) sold for $40.5 million after a bidding battle, well above estimates of $20 million to $30 million.

The painting last sold at auction in the 1980s for around $900,000 and was acquired by casino mogul Steve Wynn in 1998 and became MGM Resorts' property when the company purchased The Mirage resort from Wynn.

The Picasso auction also featured two Cubist-inspired still life paintings from the early 1940s during World War II with “Nature morte au panier de fruits et aux fleurs” selling for $16.6 million and “Nature morte aux fleurs et au compotier” going for $8.3 million.

“Homme et enfant,” a 1959 work that is nearly two meters tall, sold for $24.4 million.

Picasso lived from 1881 until 1973 and spent much of his adult life in France.

Over the course of more than 70 years as a working artist, Picasso is said to have created more than 13,000 paintings.

Organisers said the auction lasted about 45 minutes and drew about 150 people, with some seated in gold-framed chairs.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Nagaland Ambush: Not Just AFSPA, It’s Time To Do Away With Most Special Laws

Nagaland Ambush: Not Just AFSPA, It’s Time To Do Away With Most Special Laws

It may be time for India to uphold human dignity, take a hard look at some of its regressive laws like AFSPA which includes Special Laws that authorises detention without trial.

Why AFSPA In Jammu And Kashmir Is Not Just A Defence Act

Why AFSPA In Jammu And Kashmir Is Not Just A Defence Act

Has the AFSPA become an ideological Act, a tool to revise Kashmir history? Many analysts believe so.

Why England Are Resting James Anderson Vs AUS In 1st Ashes Test

Why England Are Resting James Anderson Vs AUS In 1st Ashes Test

The decision to rest Anderson at Gabba for the first Ashes 2021-22 Test is part of an English plan to keep the pace spearhead fresh for bigger challenges.

How Nagaland Incident Flared Up And Why There Is A Call To Repeal AFSPA?

How Nagaland Incident Flared Up And Why There Is A Call To Repeal AFSPA?

The Nagaland incident has highlighted several flaws in the Armed Forces Special Powers Act (AFSPA). What went wrong? We explain.

Advertisement