Entertainment Arts Las Vegas casino nets $134m auctioning its Picasso paintings

Las Vegas casino nets $134m auctioning its Picasso paintings

This Vegas visitor can keep his photo of "Femme au beret rouge-orange" but the real thing is worth millions.
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Eleven Picasso paintings and other works that helped turn Las Vegas into an unlikely destination for art have been sold at auction for more than $US100 million ($A134 million).

The sale adds further momentum to the movement within the US museum and arts communities to broaden their collections with more works by women, gays, the indigenous and members of the disabled community.

That trend was accelerated after the widespread cultural reckoning in 2020 over racism at all levels of US society.

The Sotheby’s auction was held at the Bellagio hotel in Las Vegas, where the works had been on display for years, and took place two days before the 140th birthday of the Spanish artist on Oct. 25.

Five of the paintings had hung on the walls of the Bellagio’s fine dining restaurant, Picasso. The restaurant will continue to display 12 other Picasso works.

The highest price was fetched by the 1938 painting “Femme au beret rouge-orange” of Pablo Picasso’s lover and muse Marie-Therese Walter, which sold for $US40.5 million, some $US10 million over what was already a high pre-sale estimate.

The large-scale portraits “Homme et Enfant” and “Buste d’homme” sold for $US24.4 million and $US9.5 million respectively, while smaller works on ceramic, like “Le Dejeuner sur l’herbe” which sold for $US2.1 million, went for three or four times their pre-sale estimate.

The buyers’ names were not disclosed.

The MGM Resorts Fine Arts Collection boasts about 900 works by 200 artists, including modern pieces by Bob Dylan and David Hockney.