Europe

Las Vegas hotel sells Picasso works for £80million

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The Sotheby’s auction took place at the MGM Resorts-owned Bellagio hotel and casino, home to the Michelin-starred Picasso eaterie. And all bets were off as Saturday’s sale exceeded estimates.

The highest price fetched was £29million for the 1938 portrait Femme Au Beret Rouge-Orange.

There was a “prolonged bidding battle” for the painting depicting Picasso’s muse and lover Marie-Therese Walter.

The 6.5ft tall Homme Et Enfant sold for £17million.The 1959 piece is regarded as an important example of Picasso’s late career work.

The full line-up of nine paintings and two ceramic pieces by the Spanish artist ‑ who died in 1973 ‑ spanned some six decades. 

They included Nature Morte Au Panier De Fruits Et Aux Fleurs from 1942 and Le Dejeuner Sur L’herbe from 1962.

Brooke Lampley, of Sotheby’s, said: “When we announced this unique collaboration with MGM Resorts a few months ago, there was an immediate buzz about this special auction.”

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