At an auction, organized by Sotheby’s in Las Vegas on Saturday, works by Pablo Picasso belonging to the American group of hotel-casinos MGM Resorts, were sold for $ 108.87 million.
The jewel of these eleven works was the famous painting “Woman with a red-orange beret”, one of the last portraits painted by the artist of Marie-Thérèse Walter, her lover of the 1930s.
The work, estimated between 20 and 30 million dollars, sold for 40.47 million. Two other iconic portraits executed by the painter during the last years of his life were sold, “Man and Child” for $ 24.39 million and “Bust of a Man” for 9.45 million, or below the initial estimate of 10 million.
Presented by the painter in his 1970 exhibition at the Palais des Papes in Avignon (South of France), these portraits were made between January 5, 1969 and February 2, 1970.
Other works donated at this auction included ceramics, drawings and still lifes.