Eleven paintings by Picasso and other works that helped make Las Vegas an unlikely art destination have been auctioned for more than $ 100 million.
The Sotheby’s auction was held on Saturday at the Bellagio Hotel and Casino in Las Vegas, where the works had been on display for years, and took place two days before the Spanish artist’s 140th birthday on October 25 .
The Bellagio has always been renowned for its art, and five of the paintings hung on the walls of its fine dining restaurant, which is called Picasso. The restaurant will continue to exhibit 12 other works by Picasso.
The highest prize went to the painting Femme au Béret Rouge-Orange from 1938, which depicts Picasso’s lover and muse, Marie-Thérèse Walter. It sold for $ 40.5 million, about $ 10 million more than the pre-sale estimate.
The large portraits Man and Child and Bust of Man sold for $ 24.4 million and $ 9.5 million respectively, while smaller works on ceramic, such as Lunch on the Grass sold for $ 2.1 million, have gone three or four times -estimate of the sale.
The names of the buyers were not disclosed.
Saturday’s sale was part of an offer from the MGM Resorts casino and hotel group to further diversify its vast collection to include more art by women, people of color and emerging countries as well as LGBTQ artists and artists. ‘disabled artists.
American museums and art galleries have strived to expand their collections in the wake of the widespread cultural assessment in 2020 on racism at all levels of American society.
A 2019 Public Library of Science study of 18 major US museums found that 85% of exhibited artists are white and 87% are men.
MGM Resorts’ fine art collection features approximately 900 works by 200 artists, including modern pieces by Bob Dylan and David Hockney. It was started over 20 years ago by Steve Wynn, former owner of Bellagio and former CEO of Wynn Resorts.