Picasso’s works worth $104M to be put up for auction

On Oct. 23, MGM Resorts, the US global hospitality and entertainment company, will sell 11 works of Pablo Picasso that could bring in as much as $104 million, Report informs referring to Bloomberg.

The sale, which will take place live at the Bellagio on the Las Vegas Strip in Paradise, Nevada, and be conducted by Sotheby’s, will include paintings, works on paper, and ceramics.

The top lot is expected to be Picasso’s 1938 painting Femme au Béret Rouge-Orange, which depicts the artist’s lover and muse, Marie-Thérèse Walter, and carries an estimate of $20 million to $30 million.

The portrait of Marie-Thérèse hung above a sideboard; the 1969 painting Buste d’Homme, estimated between $10 million and $15 million, hung behind the restaurant’s bar.

And the large-scale Homme et Enfant, also from 1969 and estimated to sell between $20 million and $30 million, hung over a different sideboard in the restaurant’s lounge.

Other major works were in similarly accessible locations. The 1942 still life Nature Morte au Panier de Fruits et aux Fleurs, estimated to sell between $10 million and $15 million, hung over a banquette alongside the 1943 Nature Morte aux Fleurs et au Compotier, which has an estimate of $6 million to $8 million.

There’s also a handful of comparatively lower-priced lots. A white terra cotta pitcher from 1954 is estimated between $60,000 and $80,000; a gouache (a type of watercolor) on paper from 1967, Tête d’Homme, carries an estimate of $1.5 million to $2 million.