Las Vegas At an auction in Las Vegas, 11 works by Pablo Picasso were sold for a total of $109 million on the occasion of the artist’s 140th birthday.
Nine paintings and two pottery exhibits have been on display at the Picasso restaurant at the Bellagio Museum for more than 20 years, but owner MGM Resort decided to sell them earlier this year.
Saturday’s event was hosted by Sotheby’s and was the first time an evening marquee sale had taken place in North America outside the New York sales room at a well-known auction house. Featured on Picasso’s artwork from 1917 to 1969.
According to auction officials, Picasso’s 1938 portrait of Marie-Thérse Walter “Femuebe retros-orange” (“A woman in a red-orange hat”) sold for $40.5 million after a bidding battle. It’s an estimated $20 to $30. Well over a million.
The painting was last sold at auction in the 1980s for about $900,000, was acquired by casino mogul Steve Wynn in 1998, and became the property of MGM Resort when the company bought the Mirage Resort from Wynn. ..
At the Picasso auction, two Cubist-inspired still lives from the early 1940s during World War II were on display, with “Nature Morte au Pannier de Fruits et aux Fleurs” for $16.6 million and “Nature Morte”. aux fleurs et au compotier was sold for $8.3 million. ..
The 1959 work “Om et enfant”, almost 2 meters high, sold for $ 24.4 million.
Picasso lived from 1881 to 1973 and spent most of his adulthood in France.
Picasso is said to have created over 13,000 paintings over 70 years as an active artist.
According to the organisers, the auction lasted about 45 minutes, with around 150 participants, some of whom were seated on gold-framed chairs.
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Picasso’s artwork auctioned in Las Vegas for a total of $109 million
Source Link Picasso’s Artwork Auctioned in Las Vegas for $109 Million