Picasso Paintings Exhibited At Las Vegas Hotel Sell Over $100 Million | Pablo Picasso
Eleven Picasso paintings and other works that helped make Las Vegas an unlikely art destination have been auctioned off for more than $100 million.
The Sotheby’s auction was held Saturday at the Bellagio hotel and casino in Las Vegas, where the works had been on display for years, and came 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 gourmet restaurant, which is called Picasso. The restaurant will continue to exhibit 12 other works by Picasso.
The highest prize was won by the 1938 painting Femme au Béret Rouge-Orange, 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-scale portraits of Man and Child and Bust of a Man sold for $24.4 million and $9.5 million, respectively, while smaller works on ceramics, such as Le Déjeuner sur l’herbe, sold for $2.1 million, cost three or four times their pre-sale estimate.
The names of the buyers have not been disclosed.
Saturday’s sale was part of a bid by casino and hotel group MGM Resorts to further diversify its vast collection to include more artwork by women, people of color and emerging countries as well as artists. LGBTQ artists and artists with disabilities.
American museums and art galleries have struggled to expand their collections following the widespread cultural toll 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 artists on display are white and 87% are male.
The MGM Resorts Fine Art Collection has 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 the Bellagio and former general manager of Wynn Resorts.