Picasso Paintings Sell For More Than $100M At Las Vegas Auction
On 2017’s “Slide” by Frank Ocean, Offset raps, “Walk in my mansion, $20,000 painting, Picasso.”
While hanging a $20,000 piece of art on your mansion wall will always be a flex, Offset may have underestimated just how much that Picasso painting is worth. On a record inspired by the painter himself, nonetheless.
This weekend, at the Bellagio hotel in Las Vegas, eleven Picasso paintings were auctioned off for more than $100 million combined.
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The auction, held in partnership by Sotheby’s and MGM Resorts, was a move intended to diversify the MGM Resorts Fine Art Collection, which currently boasts around “900 works from 200 artists.”
The eleven paintings had been on display at the Bellagio, the same place they were auctioned off.
Picasso’s 1938 masterpiece, “Femme au beret rouge-orange,” or “Woman in a reddish-orange hat,” received the highest winning bid of the whole auction, selling for $40.5 million, between 10 and $20 million more than initial projections. “Homme et enfant,” sold for $24.4 million, while “Buste d’homme” sold for $9.5 million.