Picasso Pieces Worth $100m To Be Auctioned In Bellagio Las Vegas

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Picasso Pieces Worth $100m To Be Auctioned In Bellagio Las Vegas

MGM Resorts is set to sell 11 Picasso paintings on October 23

Sotheby’s will oversee the auction of the 11 paintings, which have a combined value of about $100m. Picasso’s 1938 painting “Femme au beret rouge-orange” of his muse and lover Marie-Therese Walter is expected to sell for $20-30 million. “Nature Morte au Panier de Fruits et aux Fleurs”  is another highlight estimated to make between $10-15 million. This still life was painted by Picasso in 1942 during the Nazi occupation of Paris when he was forbidden from exhibiting work. Other paintings up for sale include the portraits “Homme et Enfant” and “Buste d’homme” which were both included in a 1970 exhibition at the Palais des Papes in Avignon, France.

The sale will occur in the Bellagio Hotel & Casino in Las Vegas, owned by MGM, where the Picasso paintings have been displayed. The restaurant at the Bellagio will continue to show an additional 12 Picasso works.
The MGM Resorts Fine Arts Collection has over 900 works by 200 artists and was started over 20 years ago by the former owner of the Bellagio, Steve Wynn. The sale of the 11 Picassos is expected to go for $100 million and could be the most valuable auction dedicated to the artist.

Because of the cultural reckoning tackling racial and gender issues, museums and art galleries are now diversifying their collections. MGM is looking to diversity its art collection with more pieces from women, LGBTQ, people of color, and more. The chief hospitality officer of MGM Resorts, Ari Kastrati, stated that they would make the sale to invest in art from diverse artists and create a more inclusive collection.

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