Sotherby's announcement stated that the Picasso works auctioned this time are owned by MGM Resorts real estate group, with a total value of up to about 100 million USD.
The auction will be held at the Bellagio Hotel, famous for its one of the highest quality galleries in Las Vegas, the world's leading entertainment center. The hotel has a restaurant named Picasso, where many of the works up for auction will be displayed. MGM Resorts representative Ari Kastrati affirmed that the event promises to bring memorable auction moments.
The restaurant at the Bellagio hotel hangs Picasso works that will be auctioned.
One of the highlights of the auction is "Femme au Béret Rouge-Orange", created in 1938 and one of the last works expressing the artist's love and adoration for his "muse" Marie-Thérèse Walter. The work is estimated to sell for between $20-30 million.
Picasso's paintings of Walter were an important part of his career, helping to make him one of the most famous artists in the world. Among Picasso's most valuable paintings of Walter is "Le Rêve", which was auctioned in 2013 for a whopping $155 million.
The work "Femme au Béret Rouge-Orange".
In addition, the works "Homme et Enfant" (estimated at 20-30 million USD) and "Buste d'Homme" (10-15 million USD), created between 1969 and 1970, will also be important highlights of this exhibition. These are considered the most impressive works in the final period of Picasso's career.
The auction, scheduled for October 23, will be one of the largest art auctions ever held in Las Vegas, taking place alongside a four-day exhibition of “the world’s most luxurious masterpieces.” Although the exact value of the masterpieces has not been announced, the exhibition will reportedly feature a variety of cars, jewelry, watches, handbags, etc., all of which will be put up for auction.
