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Eleven Picasso paintings and other works that helped turn Las Vegas into an unlikely destination for art have sold at auction for more than $100 million.
Saturday’s Sotheby’s auction took place at the Bellagio Hotel and Casino in Las Vegas, where the works have been on display for years, and was held two days before the Spanish artist’s 140th birthday on October 25.
The Bellagio has long been known for its art and five of the paintings hung on the walls of its fine dining restaurant, called Picasso. The restaurant will continue to display 12 more Picasso works.
The highest price was obtained by the 1938 painting Femme au Béret Rouge-Orange, depicting Picasso’s mistress and musician, Marie-Thérèse Walter. It sold for $40.5 million, about $10 million more than pre-sale estimates.
Femme au Béret Rouge-Orange, which fetched $40.5 million at auction. Photo: Bridget Bennett/Reuters
Large-scale paintings Homme et Enfant and Buste d’Homme sold for $24.4 million and $9.5 million respectively, while smaller works on ceramics, such as Le Dejeuner sur l’herbe that sold for $2.1 million, went by three or four. double what came before. Selling estimate.
The names of the buyers were not disclosed.
Saturday’s sale was part of an effort by casino and hotel group MGM Resorts to further diversify its vast collection to include more artwork from women, people of color and emerging countries as well as LGBTQ and artists with disabilities.
American museums and art galleries are expanding their collections in the wake of the widespread cultural reckoning in 2020 regarding racism at all levels of American society.
La Fenêtre de Latelier La Californie, left, bust of a man, center, and Still Life with Flowers and Compotier at auction in Las Vegas. Photo: Ronda Churchill/AFP/Getty Images
A 2019 Public Library of Science study of 18 leading US museums found that 85% of exhibiting artists were white and 87% were men.
The MGM Resorts fine art collection includes 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.
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