11 Picasso works auctioned in Las Vegas for more than $ 100 million

Up to 11 works by Picasso have been auctioned in Las Vegas for more than $ 100 million. The ‘Sotheby’s’ auction was held at the Bellagio hotel, where the paintings had been on display for years, and took place two days before the artist’s birthday, October 25.

Specific, five of the paintings had been hanging on the walls of the elegant restaurant of the hotel, which will continue to maintain another 12 works that have not been auctioned.

‘Woman with a red-orange beret’, la joya de la corona

The most expensive sale was the painting ‘Red-orange hostel’, in which the painter portrayed his lover and muse Marie-ThereseWalter in 1938. Specifically, this work was auctioned for $ 40.5 million, about ten million above the pre-sale estimate.

Also, large-scale portraits ‘Man and Child’ y ‘Busted’homme’ they were sold for $ 24.4 million and $ 9.5 million respectively, while smaller works in ceramics, such as ‘Le Dejeuner sur l’herbe’, which sold for 2.1 million, sold for three or four times their pre-sale estimate.

Saturday’s sale was part of an offer by the MGM Resorts group of casinos and hotels to further diversify your vast collection and include more art by women, people of color and emerging nations, as well as LGBTQ artists and artists with disabilities. American museums and art galleries have been working to expand their collections in the wake of widespread cultural recognition in 2020 of racism at all levels of American society.

A 2019 Public Library of Science study of 18 major US museums found that 85% of the artists on display are white and 87% are men.

The MGM Resorts Fine Arts Collection has around 900 works by 200 artists, including modern pieces by Bob Dylan and David Hockney. It was started more than 20 years ago by Steve Wynn, former owner of the Bellagio and former CEO of WynnResorts (Reporting by Jill Serjeant; Editing by Edwina Gibbs).