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Picasso’s works sold for over $100 million at the largest fine arts auction in Las Vegas,

A rare auction of 11 of Picasso’s works took place two days before his 140th birthday. MGM Resorts collaborated with Sotheby’s, sales operations, as a move to better focus on a more diversified and inclusive portfolio.

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“It is an honor to be collaborating with Sotheby’s to bring this first-of-its-kind arts and entertainment experience to Las Vegas and launch this momentous auction,” said Ari Kastrati, chief hospitality officer of MGM Resorts, in a statement. “We welcome millions of visitors from around the world to our resorts annually, providing us with a tremendous platform to showcase the diverse perspectives within the arts community.”

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The auction also marks the first time Sotheby’s marquee “Evening Sale” has taken place outside its signature New York venue. Sotheby’s has live worldwide sales. broadcast through Stream.

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Works span 50 years of the Spanish master’s career and include paintings, works on paper and ceramics.

Picasso Las Vegas Auction Sotheby's

Five paintings hang on the walls of the hotel’s fine dining restaurant, Picasso. The 1938 painting “Femme au Beret Rouge-Orange” achieved a peak price of $40.5 million, surpassing pre-sale estimates. Reuters informed of.

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Even smaller ceramic works by the artist sold for around $2 million – about three or four times their pre-sales estimate.

Picasso Las Vegas Auction Sotheby's

The names of the buyers were not disclosed.

Brooke Lampley, President of Sotheby’s, said, “It is a privilege to present this exemplary selection of works by Picasso from the MGM Art Collection at an exclusive auction to allow MGM Resorts to represent a wider and more diverse group of artists in their collections.” to help develop it.” Head of Worldwide Sales for Global Fine Art. “As one of the most celebrated, beloved and accomplished artists of all time, we can’t imagine anyone better than Picasso to inaugurate this unique art and culture experience.”

Bellagio will continue to exhibit a dozen Picasso paintings in his restaurant after the auction. The Bellagio Fine Arts Collection began in 1998 when Bellagio opened and includes 900 works by 200 artists, including modern works by Bob Dylan and David Hockney.

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The collection will use the money to buy more works by women, people of color and emerging countries, as well as LGBTQ artists and artists with disabilities.