Sat, 27 Nov 2021

Las Vegas, Nevada: Eleven Pablo Picasso paintings that have been displayed at a Las Vegas hotel for more than 20 years have been sold for nearly $110m.

The works, which were owned by MGM Resorts, were on display in the Picasso Restaurant at the Bellagio Hotel.

Company officials have said the sale of the Picasso's will allow it to diversity of its fine arts collection.

At auction, the works included nine paintings and two ceramic pieces by Picasso, who died in 1973.

The highest price was paid for the 1938 painting Woman in a Red-Orange Beret, which features Picasso's lover and muse Marie-Thrse Walter. It sold for $40.5 million.

It had been expected to bring in between $20m and $30m.

Also, the large portrait, entitled Homme et Enfant (Man and Child), sold for $24.4m.

"At nearly 2m (6.5ft) tall, the 1959 work is a hugely impressive example of Picasso's achievements during this important stage in his career," the auction house, Sotheby's, said.

Also sold were Nature Morte au Panier de Fruits et aux Fleurs (Still life with fruit basket and flowers), which was painted by Picasso during the Nazi occupation of Paris in 1942. It sold for $16.6m.

"Despite the destruction and hardship of World War Two, the years between 1940-44 resulted in one of Picasso's richest periods," Sotheby's said.

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