One of the paintings on sale sold for more than $ 40 million, informed BBC news company. The auction took place two days before the 140th anniversary of the birth of one of the greatest artists of the 20th century.
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Nine Picasso’s paintings and two pieces of pottery representing more than 50 years of the artist’s work were on offer on Saturday night local time. Works from the collection of MGM Resorts, which operates casinos and hotels, have been on display at the Bellagio’s “Picasso Restaurant” for more than 20 years. The operator has now decided to sell them, with the auction helping to increase the diversity of the art collection.
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The most expensive item was a painting from 1938 called Woman with a red-orange beret. The author portrayed his mistress and muse Marie-Thérèse Walter. According to the BBC, it was expected to sell for 20 to 30 million dollars, eventually the work goes to a buyer who offered 40.5 million.
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The new owner paid less than $ 25 million for a nearly two-meter-tall portrait of the Man and Child from 1959. There was also a Still Life with a basket of fruit and flowers that Picasso painted in Paris during the Nazi occupation. It sold for $ 16.6 million. “Despite the devastation and hardships of World War II, the years between 1940 and 1944 brought one of Picasso’s richest periods,” commented Sotheby’s auction hall.
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The paintings have so far been part of a collection built more than 20 years ago by casino mogul Steve Wynn, former owner of the Bellagio Hotel and former director of Wynn Resorts. Wynn left office after allegations of sexual harassment.
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